Bayesian decision theory with action-dependent probabilities and risk attitudes

This paper extends the work of Karni (Econ Theory 48:125–146, <CitationRef CitationID="CR3">2011</CitationRef>) to allow for the possibility that decision makers’ effect-dependent risk attitudes are also affected by their actions. This extension is essential for modeling decision situations in which actions have a monetary dimension that creates interaction between actions and wealth. Copyright Springer-Verlag 2013

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Year of publication:	2013
Authors:	Karni, Edi
Published in:	Economic Theory. - Springer. - Vol. 53.2013, 2, p. 335-356
Publisher:	Springer
Subject:	Bayesian decision theory \| Subjective probabilities \| Prior distributions \| Beliefs \| Constant utility bets

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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