Ranking Completely Uncertain Decisions by the Uniform Expected Utility Criterion

We provide an axiomatic characterization of a family of criteria for ranking completely uncertain decisions. A completely uncertain decision is described by the set of all its consequences (assumed to be finite). Each of the criterions characterized can be thought of as assigning to all consequences of a decision an equal probability of occurrence and as comparing decisions on the basis of the expected utility of their consequences for some utility function.

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Year of publication:	2007-07-12
Authors:	Gravel, Nicolas ; Marchant, Thierry ; Sen, Arunava
Institutions:	Groupement de Recherche en Économie Quantitative d'Aix-Marseille (GREQAM), Aix-Marseille School of Economics (AMSE)
Subject:	Complete Uncertainty \| Ignorance \| Ranking Sets \| Probability \| Expected Utility of their Consequences for Some Utility Function

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Extent:	application/pdf
Series:	IDEP Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 0705 41 pages
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004969046