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This paper develops a utility model for evaluating lotteries. In estimating utility, risk averse people use an asymmetric loss function. Expected utility is seen as a special case that is a good approximation of the general case in some cases. The model resolves several paradoxes and makes...
Persistent link: https://www.econbiz.de/10005118587
The decision-theoretic literature has developed very few techniques to bound the expected utility of a random variable …
Persistent link: https://www.econbiz.de/10005244915
& Acquisitions, innerhalb eines Staates z.B. um die Frage nach der Gestaltung der Sozialversicherungssysteme oder die Entscheidung … Entscheidung und dem verfgbaren Informationsstand. Während eine solche Entscheidung große Auswirkungen auf den Unternehmenserfolg …
Persistent link: https://www.econbiz.de/10005786059
In the rational choice problem Zutler (2011) proposed a model of choice by continuous Markov random walk on a set of alternatives to find the best. In this paper we investigate the optimal properties of obtained solutions. It is shown that the result of this choice is the maximal element on a...
Persistent link: https://www.econbiz.de/10010752661
Arrow-Debreu state preference approach to derivatives pricing is embedded into decision theoretical framework …. Derivatives prices are considered as decision variables. Axiomatic decision theory, concerned with the attitude toward uncertainty …
Persistent link: https://www.econbiz.de/10010691595
Using a relatively mild restriction on the beliefs of the MMEU-apreference functional, in which the decision maker … the decision theory tradition, one that can resolve dilemmas, address the many Gods objection, and address the inherent … pessimism can lead a decision maker to “convert” from one religion to another. We illustrate the theory of religious choice …
Persistent link: https://www.econbiz.de/10005135357
We examine the implications of decision theory for religious choice and evangelism, under the assumption that people … choose their religion. The application of decision theory leads us to a broad definition of religion and a particular … will capture all decision makers applying any one of the standard decision criteria. For no ambiguity, we characterize when …
Persistent link: https://www.econbiz.de/10005426899
effective tool to evolutionarily advance an existing technology. Conversely the idea of s-curves aids managers in the decision …
Persistent link: https://www.econbiz.de/10010717544
Using basic decision-theory, we construct a theory of agnosticism, where agnosticism is defined as choosing not to …
Persistent link: https://www.econbiz.de/10008671467
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