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...
| Главные авторы: | , |
|---|---|
| Формат: | Journal article |
| Язык: | English |
| Опубликовано: |
Econometric Society
2005
|