Quantum-like model of subjective expected utility
نویسندگان
چکیده
منابع مشابه
Extensions of the Subjective Expected Utility Model
The subjective expected utility (SEU) model rests on very strong assumptions about the consistency of decision making across a wide range of situations. The descriptive validity of these assumptions has been extensively challenged by behavioral psychologists during the last few decades, and the normative validity of the assumptions has also been reappraised by many statisticians, philosophers, ...
متن کاملClassical subjective expected utility.
We consider decision makers who know that payoff-relevant observations are generated by a process that belongs to a given class M, as postulated in Wald [Wald A (1950) Statistical Decision Functions (Wiley, New York)]. We incorporate this Waldean piece of objective information within an otherwise subjective setting à la Savage [Savage LJ (1954) The Foundations of Statistics (Wiley, New York)] a...
متن کاملReference-dependent subjective expected utility
A reference-dependent generalisation of subjective expected utility theory is presented. In this theory, preferences between acts depend both on final outcomes and on reference points (which may be uncertain acts). It is characterised by a set of axioms in a Savage-style framework. A restricted form of the theory separates attitudes to end states (encoded in a ‘satisfaction function’) from atti...
متن کاملSubjective expected utility without preferences
This paper proposes a theory of subjective expected utility based on primitives only involving the fact that an act can be judged either “attractive” or “unattractive”. We give conditions implying that there are a utility function on the set of consequences and a probability distribution on the set of states such that attractive acts have a subjective expected utility above some threshold. The ...
متن کاملSubjective Expected Utility in Games
The specification of a payoff function for each player is all that is needed to define a game with complete information in the usual way, the interpretation of a player’s payoffs being that they are von Neumann-Morgenstern utilities. But the latter axiomatic derivation was devised for single person decision problems involving objective lotteries over outcomes, and thus it seems not completely a...
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ژورنال
عنوان ژورنال: Journal of Mathematical Economics
سال: 2018
ISSN: 0304-4068
DOI: 10.1016/j.jmateco.2018.02.001