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Awareness-dependent subjective expected utility
Schipper, Burkhard - 2011 - This Version: December 21, 2011
We develop awareness-dependent subjective expected utility by taking unawareness structures introduced in Heifetz, Meier, and Schipper (2006, 2008, 2011a) as primitives in the Anscombe-Aumann approach to subjective expected utility. We observe that a decision maker is unaware of an event if and...
Persistent link: https://www.econbiz.de/10009542461
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Predicting the unpredictable under subjective expected utility
Schipper, Burkhard - 2024 - This Version: March 2, 2024
We consider a decision maker who is unaware of objects to be sampled and thus cannot form beliefs about the occurrence … of particular objects. Ex ante she can form beliefs about the occurrence of novelty and the frequencies of yet to be … known objects. Conditional on any sampled objects, she can also form beliefs about the next object being novel or being one …
Persistent link: https://www.econbiz.de/10015069541