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Tribute to Jean-Yves Jaffray by the French Group of Decision Theory
Persistent link: https://www.econbiz.de/10009647522
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...
Persistent link: https://www.econbiz.de/10008794921
We provide a general theorem on the aggregation of preferences under uncertainty. We study, in the Anscombe-Aumann setting a wide class of preferences, that includes most known models of decision under uncertainty (and state-dependent versions of these models). We prove that aggregation is...
Persistent link: https://www.econbiz.de/10008794942
This paper presents an axiomatic model of decision making which incorporates objective but imprecise information. We axiomatize a decision criterion of the multiple priors (or maxmin expected utility) type. The model achieves two primary objectives. First, it explains how subjective belief...
Persistent link: https://www.econbiz.de/10008795374
The most usual procedure when facing decisions in complex settings consists in consulting experts, aggregating the information they provide, and deciding on the basis of this aggregated information. We argue that such a procedure entails a substantial loss, insofar as it precludes the...
Persistent link: https://www.econbiz.de/10008795620
This paper presents an axiomatic model of decision making under uncertainty which incorporates objective but imprecise information. Information is assumed to take the form of a probability-possibility set, that is, a set $P$ of probability measures on the state space. The decision maker is told...
Persistent link: https://www.econbiz.de/10008795795
We axiomatize in the Anscombe–Aumann setting a wide class of preferences called rank-dependent additive preferences that includes most known models of decision under uncertainty as well as state dependent versions of these models. We prove that aggregation is possible and necessarily linear if...
Persistent link: https://www.econbiz.de/10008795972
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...
Persistent link: https://www.econbiz.de/10005577352
Persistent link: https://www.econbiz.de/10001716693
Persistent link: https://www.econbiz.de/10002130943