A Smooth Model of Decision Making Under Ambiguity.
We propose and axiomatize a model of preferences over acts such that the decision maker prefers act f to act g if and only if Eμφ (Eπu ◦ f) ≥ Eμφ (Eπu ◦ g), where E is the expectation operator, u is a vN-M utility function, φ is an increasing transformation, and μ is a subjective probability over th...
| Үндсэн зохиолчид: | , |
|---|---|
| Формат: | Journal article |
| Хэл сонгох: | English |
| Хэвлэсэн: |
Econometric Society
2005
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