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Author : Edi Karni
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (255 download)
Download or read book On State Dependent Preferences and Subjective Probabilities written by Edi Karni and published by . This book was released on 1982 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edi Karni
Publisher :
ISBN 13 :
Total Pages : 17 pages
Book Rating : 4.:/5 (753 download)
Download or read book A Definition of Subjective Probabilities with State-dependent Preferences written by Edi Karni and published by . This book was released on 1990 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edi Karni
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (753 download)
Download or read book Subjective Probabilities and Utility with Event-dependent Preferences written by Edi Karni and published by . This book was released on 1991 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edi Karni
Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.3/5 (91 download)
Download or read book Decision Making Under Uncertainty written by Edi Karni and published by . This book was released on 1985 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a self-contained, comprehensive, and unified treatment of the theory of decision making under uncertainty with state dependent preferences. The author begins by setting forth axiomatic foundations of subjective expected utility theory with stat-dependent preferences. He then develops measures of risk aversion and of risk for state-dependent utility functions and shows how they can be applied to decisions involving health and life insurance.
Author : Yutaka Nakamura
Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (13 download)
Download or read book State-Dependent Strength-of-Preference written by Yutaka Nakamura and published by . This book was released on 2015 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: When a utility function is state-dependent, ex ante preferences for acts cannot elicit unique subjective probabilities without auxiliary devices. This paper introduces ex-post strength-of-preferences for state-contingent decision outcomes. Then we prove that a consistency condition between ex ante preference and ex post strength-of-preference relations can separate utility and unique subjective state probabilities.
Author : John Eatwell
Publisher : Springer
ISBN 13 : 1349205680
Total Pages : 330 pages
Book Rating : 4.3/5 (492 download)
Download or read book Utility and Probability written by John Eatwell and published by Springer. This book was released on 1990-02-23 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on utility and probability.
Author : Mark J. Machina
Publisher : Springer Science & Business Media
ISBN 13 : 1475745923
Total Pages : 373 pages
Book Rating : 4.4/5 (757 download)
Download or read book Beliefs, Interactions and Preferences written by Mark J. Machina and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beliefs, Interactions and Preferences in Decision Making mixes a selection of papers, presented at the Eighth Foundations and Applications of Utility and Risk Theory (`FUR VIII') conference in Mons, Belgium, together with a few solicited papers from well-known authors in the field. This book addresses some of the questions that have recently emerged in the research on decision-making and risk theory. In particular, authors have modeled more and more as interactions between the individual and the environment or between different individuals the emergence of beliefs as well as the specific type of information treatment traditionally called `rationality'. This book analyzes several cases of such an interaction and derives consequences for the future of decision theory and risk theory. In the last ten years, modeling beliefs has become a specific sub-field of decision making, particularly with respect to low probability events. Rational decision making has also been generalized in order to encompass, in new ways and in more general situations than it used to be fitted to, multiple dimensions in consequences. This book deals with some of the most conspicuous of these advances. It also addresses the difficult question to incorporate several of these recent advances simultaneously into one single decision model. And it offers perspectives about the future trends of modeling such complex decision questions. The volume is organized in three main blocks: The first block is the more `traditional' one. It deals with new extensions of the existing theory, as is always demanded by scientists in the field. A second block handles specific elements in the development of interactions between individuals and their environment, as defined in the most general sense. The last block confronts real-world problems in both financial and non-financial markets and decisions, and tries to show what kind of contributions can be brought to them by the type of research reported on here.
Author : Mark Machina
Publisher : Newnes
ISBN 13 : 0444536868
Total Pages : 897 pages
Book Rating : 4.4/5 (445 download)
Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. - Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance - Divides coverage between theoretical, empirical, and experimental findings - Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Author : Stanford University. Institute for Mathematical Studies in the Social Sciences
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (466 download)
Download or read book Subjective Probabilities with State Independent Utilities on State Dependent Consequence Domains written by Stanford University. Institute for Mathematical Studies in the Social Sciences and published by . This book was released on 1987 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter P. Wakker
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (459 download)
Download or read book Subjective probabilities for state dependent continuous utility written by Peter P. Wakker and published by . This book was released on 1985 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul Anand
Publisher : OUP Oxford
ISBN 13 : 0191608769
Total Pages : 608 pages
Book Rating : 4.1/5 (916 download)
Download or read book The Handbook of Rational and Social Choice written by Paul Anand and published by OUP Oxford. This book was released on 2009-01-15 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Rational and Social Choice provides an overview of issues arising in work on the foundations of decision theory and social choice over the past three decades. Drawing on work by economic theorists mainly, but also with contributions from political science, philosophy and psychology, the collection shows how the related areas of decision theory and social choice have developed in their applications and moved well beyond the basic models of expected utility and utilitarian approaches to welfare economics. Containing twenty-three contributions, in many cases by leading figures in their fields, the handbook shows how the normative foundations of economics have changed dramatically as more general and explicit models of utility and group choice have been developed. This is perhaps the first time these developments have been brought together in a manner that seeks to identify and make accessible the recent themes and developments that have been of particular interest to researchers in recent years. The collection will be of particular value to researchers in economics with interests in utility or welfare but it will also be of interest to any social scientist or philosopher interested in theories of rationality or group decision-making.
Author : Satoshi Nakada
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)
Download or read book Subjective and Objective Probabilities in Representation of Preferences Under Uncertainty written by Satoshi Nakada and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dana Scott provides a necessary and sufficient condition for a given probability capacity can be decomposed into a unique additive probability and a unique strictly increasing distortion function. Given this result, we characterize a family of preferences defined over the lottery acts (the Anscombe-Aumann acts), which we call rank-dependent subjective expected utility (RDSEU): The Choquet expected utility (CEU) preferences where a probability capacity is decomposed into an additive probability and a distortion function, both of which are endogenously derived from the preference. Furthermore, we clarify the relationship between this family of preferences and the so-called probabilistically sophisticated (PS) preferences. Specifically, a decision maker's preference is represented by RDSEU if and only if it is represented by CEU on the Anscombe-Aumann acts and by PS when its domain is restricted to the Savage acts. Moreover, if, in addition, the RDSEU is representable by PS on the entire Anscombe-Aumann acts, it turns out that it must be a subjective expected utility (CEU) on the entire domain. We thus uncover how subjective and objective probabilities are different not only in their concepts but also in their implications for preference representation.
Author : Joseph B. Kadane
Publisher : Cambridge University Press
ISBN 13 : 9780521649759
Total Pages : 402 pages
Book Rating : 4.6/5 (497 download)
Download or read book Rethinking the Foundations of Statistics written by Joseph B. Kadane and published by Cambridge University Press. This book was released on 1999-08-13 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important collection of essays is a synthesis of foundational studies in Bayesian decision theory and statistics. An overarching topic of the collection is understanding how the norms for Bayesian decision making should apply in settings with more than one rational decision maker and then tracing out some of the consequences of this turn for Bayesian statistics. There are four principal themes to the collection: cooperative, non-sequential decisions; the representation and measurement of 'partially ordered' preferences; non-cooperative, sequential decisions; and pooling rules and Bayesian dynamics for sets of probabilities. The volume will be particularly valuable to philosophers concerned with decision theory, probability, and statistics, statisticians, mathematicians, and economists.
Author : Salvador Barbera
Publisher : Springer Science & Business Media
ISBN 13 : 9780792381747
Total Pages : 714 pages
Book Rating : 4.3/5 (817 download)
Download or read book Handbook of Utility Theory written by Salvador Barbera and published by Springer Science & Business Media. This book was released on 1998 with total page 714 pages. Available in PDF, EPUB and Kindle. Book excerpt: The standard rationality hypothesis implies that behaviour can be represented as the maximization of a suitably restricted utility function. This hypothesis lies at the heart of a large body of recent work in economics, of course, but also in political science, ethics, and other major branches of social sciences. Though the utility maximization hypothesis is venerable, it remains an area of active research. Moreover, some fundamental conceptual problems remain unresolved, or at best have resolutions that are too recent to have achieved widespread understanding among social scientists. The main purpose of the Handbook of Utility Theory is to make recent developments in the area more accessible. The editors selected a number of specific topics, and invited contributions from researchers whose work had come to their attention. Therefore, the list of topics and contributions is largely the editors' responsibility. Each contributor's chapter has been refereed, and revised according to the referees' remarks. This is the first volume of a two volume set, with the second volume focusing on extensions of utility theory.
Author : Jacques Drèze
Publisher : CUP Archive
ISBN 13 : 9780521386975
Total Pages : 460 pages
Book Rating : 4.3/5 (869 download)
Download or read book Essays on Economic Decisions Under Uncertainty written by Jacques Drèze and published by CUP Archive. This book was released on 1990-05-25 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Dreze is a highly respected mathematical economist and econometrician. This book brings together some of his major contributions to the economic theory of decision making under uncertainty, and also several essays. These include an important essay on 'Decision theory under moral hazard and state dependent preferences' that significantly extends modern theory, and which provides rigorous foundations for subsequent chapters. Topics covered within the theory include decision theory, market allocation and prices, consumer decisions, theory of the firm, labour contracts, and public decisions.
Author : Raymond J. Dolan
Publisher : Academic Press
ISBN 13 : 0123814316
Total Pages : 357 pages
Book Rating : 4.1/5 (238 download)
Download or read book Neuroscience of Preference and Choice written by Raymond J. Dolan and published by Academic Press. This book was released on 2012 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most pressing questions in neuroscience, psychology and economics today is how does the brain generate preferences and make choices? With a unique interdisciplinary approach, this volume is among the first to explore the cognitive and neural mechanisms mediating the generation of the preferences that guide choice. From preferences determining mundane purchases, to social preferences influencing mating choice, through to moral decisions, the authors adopt diverse approaches to answer the question. Chapters explore the instability of preferences and the common neural processes that occur across preferences. Edited by one of the world's most renowned cognitive neuroscientists, each chapter is authored by an expert in the field, with a host of international contributors. Emphasis on common process underlying preference generation makes material applicable to a variety of disciplines - neuroscience, psychology, economics, law, philosophy, etc. Offers specific focus on how preferences are generated to guide decision making, carefully examining one aspect of the broad field of neuroeconomics and complementing existing volumes Features outstanding, international scholarship, with chapters written by an expert in the topic area
Author : Robert J. Aumann
Publisher : MIT Press
ISBN 13 : 9780262011549
Total Pages : 806 pages
Book Rating : 4.0/5 (115 download)
Download or read book Collected Papers written by Robert J. Aumann and published by MIT Press. This book was released on 2000 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Aumann's career in game theory has spanned over research - from his doctoral dissertation in 1956 to papers as recent as January 1995. Threaded through all of Aumann's work (symbolized in his thesis on knots) is the study of relationships between different ideas, between different phenomena, and between ideas and phenomena. When you look closely at one scientific idea, writes Aumann, you find it hitched to all others. It is these hitches that I have tried to study.
