Showing 1 - 8 of 8
Persistent link: https://www.econbiz.de/10009525319
Persistent link: https://www.econbiz.de/10001485385
Persistent link: https://www.econbiz.de/10010344342
Persistent link: https://www.econbiz.de/10012238233
Persistent link: https://www.econbiz.de/10011596477
Persistent link: https://www.econbiz.de/10012109527
Consider an agent who faces a sequential decision problem. At each stage the agent takes an action and observes a stochastic outcome e.g., daily prices, weather conditions, opponents’ actions in a repeated game, etc. The agent’s stage-utility depends on his action, the observed outcome and...
Persistent link: https://www.econbiz.de/10014172016
In Ellsberg paradox, decision makers that are partially informed about the actual probability distribution violate the expected utility paradigm. This paper develops a theory of decision making with a partially specified probability. The paper takes an axiomatic approach using Anscombe-Aumann's...
Persistent link: https://www.econbiz.de/10014058551