Generalization of the expected utility criterion to choices under regular uncertainty

Generalization of the expected utility criterion to choices under regular uncertainty

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Article ID: iaor19891022
Country: France
Volume: 23
Issue: 3
Start Page Number: 237
End Page Number: 267
Publication Date: Oct 1989
Journal: RAIRO Operations Research
Authors:
Abstract:

Regular uncertainty denotes any situation where data concerning the events are consistent with a set of probability measures, characterizable by its lower envelope, which is a convex capacity. A criterion of choice under regular uncertainty is then justified axiomatically and consists in a generalization of the expected utility criterion.

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