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Subjective Probabilities With State Independent Utilities On State Dependent Consequence Domains
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Author :Stanford University. Institute for Mathematical Studies in the Social Sciences Publisher : ISBN 13 : Total Pages :23 pages Book Rating :4.:/5 (466 download)
Book Synopsis Subjective Probabilities with State Independent Utilities on State Dependent Consequence Domains by : Stanford University. Institute for Mathematical Studies in the Social Sciences
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:
Book Synopsis Subjectively Expected State-Independent Utility on State-Dependent Consequence Domains by : Peter J. Hammond
Download or read book Subjectively Expected State-Independent Utility on State-Dependent Consequence Domains written by Peter J. Hammond and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The standard decision theories of Savage and of Anscombe and Aumann both postulate that the domain of consequences is state independent. But this hypothesis makes no sense when, for instance, there is a risk of death or serious injury. The paper considers one possible way of deriving subjective probabilities and utilities in this case also. Moreover, the utilities will be state independent in the sense of giving equal value to any consequence that happens to occur in more than one state dependent consequence domain. The key is to consider decision trees having "hypothetical" probabilities attached to states of nature, and even to allow hypothetical choices of these probabilities.
Book Synopsis Handbook of Utility Theory by : Salvador Barbera
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.
Book Synopsis Beliefs, Interactions and Preferences by : Mark J. Machina
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.
Book Synopsis Conversations on Social Choice and Welfare Theory - Vol. 1 by : Marc Fleurbaey
Download or read book Conversations on Social Choice and Welfare Theory - Vol. 1 written by Marc Fleurbaey and published by Springer Nature. This book was released on 2021-03-30 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents interviews that have been conducted from the 1980s to the present with important scholars of social choice and welfare theory. Starting with a brief history of social choice and welfare theory written by the book editors, it features 15 conversations with four Nobel Laureates and other key scholars in the discipline. The volume is divided into two parts. The first part presents four conversations with the founding fathers of modern social choice and welfare theory: Kenneth Arrow, John Harsanyi, Paul Samuelson, and Amartya Sen. The second part includes conversations with scholars who made important contributions to the discipline from the early 1970s onwards. This book will appeal to anyone interested in the history of economics, and the history of social choice and welfare theory in particular.
Book Synopsis Subjective probabilities for state dependent continuous utility by : Peter P. Wakker
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:
Book Synopsis A Definition of Subjective Probabilities with State-dependent Preferences by : Edi Karni
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:
Book Synopsis Handbook of the Economics of Risk and Uncertainty by : Mark Machina
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
Book Synopsis Subjective Probabilities and Utility with Event-dependent Preferences by : Edi Karni
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:
Book Synopsis Probabilities and Beliefs by : Edi Karni
Download or read book Probabilities and Beliefs written by Edi Karni and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Choice-theoretic definitions of subjective probabilities originated with the work of Ramsey and de Finetti and attained their definitive form in the work of Savage. These probabilities are intended to provide a numerical representation of decision-maker's beliefs regarding the likely realization of alternative events. In this paper I argue that the choice-theoretic definitions of subjective probabilities involve a tacit convention--namely, state- independent utility functions--that is not implied by the axioms, and as a consequence choice-theoretic subjective probabilities, even when they exist do not necessarily represent the decision-maker's beliefs.
Book Synopsis Essays on Economic Decisions Under Uncertainty by : Jacques Drèze
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 :Econometric Society. World Congress Publisher :Cambridge University Press ISBN 13 :1107016045 Total Pages :511 pages Book Rating :4.1/5 (7 download)
Book Synopsis Advances in Economics and Econometrics by : Econometric Society. World Congress
Download or read book Advances in Economics and Econometrics written by Econometric Society. World Congress and published by Cambridge University Press. This book was released on 2013-05-27 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first volume of edited papers from the Tenth World Congress of the Econometric Society 2010.
Download or read book Management Science written by and published by . This book was released on 2000 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues for Feb. 1965-Aug. 1967 include Bulletin of the Institute of Management Sciences.
Book Synopsis Advances in Economics and Econometrics: Volume 1, Economic Theory by : Daron Acemoglu
Download or read book Advances in Economics and Econometrics: Volume 1, Economic Theory written by Daron Acemoglu and published by Cambridge University Press. This book was released on 2013-05-13 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first of three volumes containing edited versions of papers and commentaries presented at invited symposium sessions of the Tenth World Congress of the Econometric Society, held in Shanghai in August 2010. The papers summarize and interpret key developments in economics and econometrics and they discuss future directions for a wide variety of topics, covering both theory and application. Written by the leading specialists in their fields, these volumes provide a unique, accessible survey of progress on the discipline. The first volume primarily addresses economic theory, with specific focuses on nonstandard markets, contracts, decision theory, communication and organizations, epistemics and calibration, and patents.
Book Synopsis Cognitive Psychology In and Out of the Laboratory by : Kathleen M. Galotti
Download or read book Cognitive Psychology In and Out of the Laboratory written by Kathleen M. Galotti and published by SAGE. This book was released on 2013-01-25 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cognitive Psychology In and Out of the Laboratory provides a student-centered approach for undergraduate courses in cognitive psychology. Kathleen Galotti's accessible writing style and use of colorful real-life examples bring the full relevance of cognitive psychology into focus for students, and equips them to understand how theoretical principles apply to real-world problems and the complex functions of the human brain. The text features special coverage of the development of cognition from infancy through adolescence, and extensive coverage of gender, individual differences, and cross-cultural approaches to cognition.
Book Synopsis Subjective Probability by : Richard Jeffrey
Download or read book Subjective Probability written by Richard Jeffrey and published by Cambridge University Press. This book was released on 2004-04-12 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sample Text
Download or read book Mathematical Reviews written by and published by . This book was released on 1993 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt:
