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This paper provides a general framework for a unifying treatment of stochastic dominance of any degree and of any type (direct or inverse for each final or intermediary level). It gives the conditions for the congruence between stochastic dominance and classes of utility functions in this...
Persistent link: https://www.econbiz.de/10010821246
We review recent advances in the field of decision making under uncertainty or ambiguity. …
Persistent link: https://www.econbiz.de/10010738626
agent is inclined to make a particular decision, but due to a possible influence of the others, his final decision may be …
Persistent link: https://www.econbiz.de/10010898370
de prise de décision : analogique, déductif et inductif. Ces processus soulignent la complexité des relations entre les …
Persistent link: https://www.econbiz.de/10010898885
attention. They nonetheless constituted an opportunity to introduce a sophisticated analysis of individual decision under risk …
Persistent link: https://www.econbiz.de/10010899316
this theorem to explain the well-known problems of utility and decision theories, such as risk aversion, the underweighting …
Persistent link: https://www.econbiz.de/10010899454
agent is inclined to make a particular decision, but due to a possible influence of the others, his final decision may be …
Persistent link: https://www.econbiz.de/10010784105
agent is inclined to make a particular decision, but due to a possible influence of the others, his final decision may be …
Persistent link: https://www.econbiz.de/10011025754
We develop an axiomatic approach to decision under uncertainty that explicitly takes into account the information … available to the decision maker. The information is described by a set of priors and a reference prior. We define a notion of … imprecision for this informational setting and show that a decision maker who is averse to information imprecision maximizes the …
Persistent link: https://www.econbiz.de/10010750380
Based on Hume's major philosophical works and on some of his Essays, this paper discusses formally the feasibility, from a Humean point of view, of a welfare policy which would aim at promoting the highest individual happiness whereas individual decisions, like individual happiness, are...
Persistent link: https://www.econbiz.de/10009226838