Karni, Edi (contributor) - 2005
expected utility, Bayesian theory, subjec-
tive probabilities.
JEL Classification Numbers: D81
∗
I am grateful to Eddie Dekel …-
comings of subjective expected utility theory. First, and most important,
the theory ascribes to decision makers probabilities …. Moreover, with one exception,
while subjective expected utility theory is consistent with the updating of
the subjective …