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decision models. Central to each step is a bijective mapping that, applied to the set of prospects, changes the framing of the … decision problem. Static models of subjective expected utility and reference dependence result from stretch mappings and … preference cycles in a higher-dimensional decision space without violating transitivity. An equilibrium of such a dynamic model …
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Anscombe & Aumann (1963) offer a definition of subjective probability in terms of comparisons with objective probabilities. That definition - which has provided the basis for much of the succeeding work on subjective probability - presumes that the subjective probability of an event is...
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