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Author : Edi Karni
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (753 download)
Download or read book Subjective Expected Utility Theory with State-dependent Preferences written by Edi Karni and published by . This book was released on 1990 with total page 46 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 : 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 : Jacques H. Drèze
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book Subjective Expected Utility with State-dependent But Action/observation-independent Preferences written by Jacques H. Drèze and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edi Karni
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (636 download)
Download or read book An Expected Utility Theory for State-dependent Preferences written by Edi Karni and published by . This book was released on 1980 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jacob Gyntelberg
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (836 download)
Download or read book Subjective Expected Utility Theory with "small Worlds" written by Jacob Gyntelberg and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ralph L. Keeney
Publisher : Cambridge University Press
ISBN 13 : 9780521438834
Total Pages : 596 pages
Book Rating : 4.4/5 (388 download)
Download or read book Decisions with Multiple Objectives written by Ralph L. Keeney and published by Cambridge University Press. This book was released on 1993-07 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe their thoughts and feelings in order to make the critically important trade-offs between incommensurable objectives.
Author : Leonard J. Savage
Publisher : Courier Corporation
ISBN 13 : 0486137104
Total Pages : 341 pages
Book Rating : 4.4/5 (861 download)
Download or read book The Foundations of Statistics written by Leonard J. Savage and published by Courier Corporation. This book was released on 2012-08-29 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Classic analysis of the foundations of statistics and development of personal probability, one of the greatest controversies in modern statistical thought. Revised edition. Calculus, probability, statistics, and Boolean algebra are recommended.
Author : Michael W. Kattan
Publisher : SAGE
ISBN 13 : 1412953723
Total Pages : 1281 pages
Book Rating : 4.4/5 (129 download)
Download or read book Encyclopedia of Medical Decision Making written by Michael W. Kattan and published by SAGE. This book was released on 2009-08-18 with total page 1281 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Encyclopedia of Medical Decision Making presents state-of-the-art research and ready-to-use facts sorting out findings on medical decision making and their applications.
Author : Peter C. Fishburn
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (227 download)
Download or read book A Theory of Subjective Expected Utility with Vague Preferences written by Peter C. Fishburn and published by . This book was released on 1975 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report shows how notions of vagueness in preferences and judgments of personal probabilities can be accommodated within an axiomatization of subjective expected utility by the use of scaling probabilities and lotteries on consequences. The representation obtained says that the subjective expected utility of one act exceeds the subjective expected utility of a second act whenever the first is preferred to the second. The report also explores the possibility of obtaining this representation without using scaling probabilities.
Author : P.C. Fishburn
Publisher : Springer Science & Business Media
ISBN 13 : 9401733295
Total Pages : 181 pages
Book Rating : 4.4/5 (17 download)
Download or read book The Foundations of Expected Utility written by P.C. Fishburn and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a unified treatment of my research in the foundations of expected utility theory from around 1965 to 1980. While parts are new, the presentation draws heavily on published articles and a few chapters in my 1970 monograph on utility theory. The diverse notations and styles of the sources have of course been reconciled here, and their topics arranged in a logical sequence. The two parts of the book take their respective cues from the von Neumann-Morgenstern axiomatization of preferences between risky options and from Savage's foundational treatment of decision making under uncertainty. Both parts are studies in the axiomatics of preferences for decision situations and in numerical representations for preferences. Proofs of the representation and uniqueness theorems appear at the ends of the chapters so as not to impede the flow of the discussion. A few warnings on notation are in order. The numbers for theorems cited within a chapter have no prefix if they appear in that chapter, but otherwise carry a chapter prefix (Theorem 3.2 is Theorem 2 in Chapter 3). All lower case Greek letters refer to numbers in the closed interval from o to 1. The same symbol in different chapters has essentially the same meaning with one major exception: x, y, ... mean quite different things in different chapters. I am indebted to many people for their help and encouragement.
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 : 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:
Download or read book Subjective Expected Utility Theory with Costly Actions written by and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ward Edwards
Publisher : Springer Science & Business Media
ISBN 13 : 9401129525
Total Pages : 304 pages
Book Rating : 4.4/5 (11 download)
Download or read book Utility Theories: Measurements and Applications written by Ward Edwards and published by Springer Science & Business Media. This book was released on 2013-12-01 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Conference on "Utility: Theories, Measurements, and Applications" met at the Inn at Pasatiempo in Santa Cruz, California, from June II to 15, 1989. The all-star cast of attendees are listed as authors in the Table of Contents of this book (see p. V), except for Soo Hong Chew and Amos Tversky. The purpose of the conference, and of National Science Foundation Grant No. SES-8823012 that supported it, was to confront proponents of new generalized theories of utility with leading decision analysts com mitted to the implementation, in practice, of the more traditional theory that these new theories reject. That traditional model is variously iden tified in this book as expected utility or subjectively expected utility maximization (EU or SEU for short) and variously attributed to von Neumann and Morgenstern or Savage. I had feared that the conference might consist of an acrimonious debate between Olympian normative theorists uninterested in what people actually do and behavioral modelers obsessed with the cognitive illusions and uninterested in helping people to make wise decisions. I was entirely wrong. The conferees, in two dramatic straw votes at the open ing session, unanimously endorsed traditional SEU as the appropriate normative model and unanimously agreed that people don't act as that model requires. (These votes had a profound impact on my thinking; detail about them and about that impact is located in Chapter 10.
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 : Ivan Moscati
Publisher :
ISBN 13 : 0199372764
Total Pages : 345 pages
Book Rating : 4.1/5 (993 download)
Download or read book Measuring Utility written by Ivan Moscati and published by . This book was released on 2019 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Utility is a key concept in the economics of individual decision-making. However, utility is not measurable in a straightforward way. As a result, from the very beginning there has been debates about the meaning of utility as well as how to measure it. This book is an innovative investigation of how these arguments changed over time. Measuring Utility reconstructs economists' ideas and discussions about utility measurement from 1870 to 1985, as well as their attempts to measure utility empirically. The book brings into focus the interplay between the evolution of utility analysis, economists' ideas about utility measurement, and their conception of what measurement in general means. It also explores the relationships between the history of utility measurement in economics, the history of the measurement of sensations in psychology, and the history of measurement theory in general. Finally, the book discusses some methodological problems related to utility measurement, such as the epistemological status of the utility concept and its measures. The first part covers the period 1870-1910, and discusses the issue of utility measurement in the theories of Jevons, Menger, Walras and other early utility theorists. Part II deals with the emergence of the notions of ordinal and cardinal utility during the period 1900-1945, and discusses two early attempts to give an empirical content to the notion of utility. Part III focuses on the 1945-1955 debate on utility measurement that was originated by von Neumann and Morgenstern's expected utility theory (EUT). Part IV reconstructs the experimental attempts to measure the utility of money between 1950 and 1985 within the framework provided by EUT. This historical and epistemological overview provides keen insights into current debates about rational choice theory and behavioral economics in the theory of individual decision-making and the philosophy of economics.
