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This paper extends Savage's subjective approach to probability and utility from decision problems under exogenous … simple preference relations uniquely identifies the decision maker's utilities and beliefs of all orders. Connections with …
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We study the problem of elicitation of subjective beliefs of an agent when the beliefs are ambiguous (the set of beliefs is a non-singleton set) and the agent's preference exhibits ambiguity aversion; in particular, as represented by alpha-maxmin preferences. We construct a direct revelation...
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This chapter provides a critical review of the theories of decision making under risk and under uncertainty and the …
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