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This paper axiomatizes expected multi-utility representations of incomplete preferences under risk and under uncertainty. The von Neumann-Morgenstern expected utility model with incomplete preferences is revisited using a "constructive" approach, as opposed to earlier treatments that use convex...
Persistent link: https://www.econbiz.de/10010397796
This paper extends the expected utility models of decision making under risk and under uncertainty to include incomplete beliefs and tastes. The main results are two axiomatizations of the multi-prior expected multi-utility representations of preference relation under uncertainty, thereby...
Persistent link: https://www.econbiz.de/10010285780
This paper axiomatizes expected multi-utility representations of incomplete preferences under risk and under uncertainty. The von Neumann-Morgenstern expected utility model with incomplete preferences is revisited using a "constructive" approach, as opposed to earlier treatments that use convex...
Persistent link: https://www.econbiz.de/10009511739
Persistent link: https://www.econbiz.de/10009658731
Persistent link: https://www.econbiz.de/10009719105
This paper extends the expected utility models of decision making under risk and under uncertainty to include incomplete beliefs and tastes. The main results are two axiomatizations of the multi-prior expected multi-utility representations of preference relation under uncertainty, thereby...
Persistent link: https://www.econbiz.de/10008689038
This paper reports the results of experiments designed to test (a) whether and to what extent individuals display non-neutral ambiguity attitudes in their choice behavior and (b) if and how do ambiguity attitudes change as a result of interpersonal interactions and persuasion. To address the...
Persistent link: https://www.econbiz.de/10009493822
This paper invokes the axiomatic approach to explore the notion of growing awareness in the context of decision making under uncertainty. It introduces a new approach to modeling the expanding universe of a decision maker in the wake of becoming aware of new consequences, new acts, and new links...
Persistent link: https://www.econbiz.de/10009653317
Persistent link: https://www.econbiz.de/10012511074
Persistent link: https://www.econbiz.de/10011949328