This paper explores the distinction between normative and positive theoretical statements in a game theoretic context from a Bayesian perspective. Normative and positive theoretical statements are often confused in decision making research. The confusion results from some unique epistemological...

This investigation combines two questions for expected utility theory: 1. When do the shared preferences among expected utility maximizers conform to the dictates of expected utility? 2. What is the impact on expected utility theory of allowing preferences for prizes to be state-dependent? Our...

This paper explores some of the consequences of adopting a modern subjective view of probability for game theory. The consequences are substantial. The subjective view of probability clarifies the important distinction between normative and positive theorizing about behavior in games, a...

Reply to Harsanyi, J. C. 1982. Comment---Subjective probability and the theory of games: comments on Kadane and Larkey's paper. Management Sci. 28 (2) 120--124.

A characterization is given of diametrically opposed interests between two players: either neither is a Bayesian, or both have a unique probability and utility function (up to the usual transformation) or both have many possible probabilities and utilities. In the second case, their utility...

Differences in players' skill are important determinants of relative player success in most real games such as poker, chess, basketball, business, and politics. Yet conventional game theory has concentrated primarily on games with no skill differences among players. This paper uses a simplified...

Count data arise in various organizational settings. When the release of such data is sensitive, organizations need information-disclosure policies that protect data confidentiality while still providing data access. In contrast to extant disclosure policies, we describe a new policy for count...

A number of proposals have been put forth regarding the proper way to model the societal impact of fatal accidents. Most of these proposals are based on some form of utility function asserting that the social cost (or disutility) of N lives lost in a single accident is a function of N^\alpha. A...

Standards are an effective means for managing hazardous technologies only if three conditions are satisfied: (a) setting general standards is preferable to case-by-case decision making; (b) some general safety philosophy, balancing risk and other factors, can be justified on normative grounds;...