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The principle of uncertain future: the probability of a future event contains an (hidden) uncertainty. The first … an uniform solution of the underweighting of high and the overweighting of low probabilities, of the Allais paradox, risk … probability system of a future event is incomplete. The second consequence provides a solution of the incompleteness of systems of …
Persistent link: https://www.econbiz.de/10005835901
The article raises the question of possible existence of ruptures, gaps in the probability scale which are caused by … standard probability distributions. …
Persistent link: https://www.econbiz.de/10008587482
-zero dispersion of the function is proved. The theorem has an applied character. It is aimed to be used in the probability theory and …
Persistent link: https://www.econbiz.de/10011113980
A theorem of existence of ruptures in the probability scale has been proven. The theorem can be used, e.g., in …
Persistent link: https://www.econbiz.de/10008596366
The proof of the theorem of existence of the ruptures, namely the proof of maximality, is improved. The theorem may be used in economics and explain the well-known problems such as Allais’ paradox. Illustrated examples of ruptures are presented.
Persistent link: https://www.econbiz.de/10009403452
The theorem of existence of the ruptures in the probability scale has been proved for a discrete case. The theorem can …
Persistent link: https://www.econbiz.de/10008526960
and of the probability scale. The theorems can be used, e.g., in economics and forecasting. …
Persistent link: https://www.econbiz.de/10008574286
The theorem of existence of ruptures in the probability scale has been proved. The theorem can be used, e.g., in …
Persistent link: https://www.econbiz.de/10008577644
The concept of unforeseen events is considered as a part of a hypothesis of uncertain future. The applications of the consequences of the hypothesis in utility and prospect theories are reviewed. Partially unforeseen events and their role in forecasting are analyzed. Preliminary preparations are...
Persistent link: https://www.econbiz.de/10011110243
The theorem of existence of the ruptures in the probability scale was proved in 2010. The theorem is used to analyze …, including application of the theorem. Its most significant result: when uncertainty increases, then taking the theorem into … account may reverse insurant’s and insurer’s decisions to the opposite ones. …
Persistent link: https://www.econbiz.de/10009369617