A Derivation of Expected Utility Maximization in the Context of a Game.

A decision maker faces a decision problem, or a game against nature. For each probability distribution over the state of the world (nature`s strategies), she has a weak order over her acts (pure strategies). We formulate conditions on these weak orders guaranteeing that they can be jointly represented by expected utility maximization with respect to an almost-unique state-dependent utility, that is, a matrix assigning real numbers to act-state pairs.

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Year of publication:	2001
Authors:	Gilboa, I. ; Schmeidler, D.
Institutions:	Foerder Institute for Economic Research, Eitan Berglas School of Economics
Subject:	GAMES \| DISTRIBUTION \| DECISION MAKING

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Series:	Tel Aviv.
Type of publication:	Book / Working Paper
Notes:	23 pages
Classification:	C70 - Game Theory and Bargaining Theory. General ; D8 - Information and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005675378