Article ID: | iaor1989632 |
Country: | Netherlands |
Volume: | 8 |
Issue: | 2 |
Start Page Number: | 107 |
End Page Number: | 112 |
Publication Date: | Apr 1989 |
Journal: | Operations Research Letters |
Authors: | Jaffray Jan-Yves |
In uncertainty situations where knowledge is described by a Dempster-Shafer belief function (which is more general than a probability measure), von Neumann-Morgenstern linear utility theory applies and leads to a generalized expected utility representation of preference which allows for risk-attitude and ambiguity-attitude (pessimism/optimism).