Conditional expected utility criteria for decision making under ignorance or objective ambiguity

B-Tier
Journal: Journal of Mathematical Economics
Year: 2018
Volume: 78
Issue: C
Pages: 79-95

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We provide an axiomatic characterization of a family of criteria for ranking completely uncertain and/or ambiguous decisions. A completely uncertain decision is described by the set of all its consequences (assumed to be finite). An ambiguous decision is described as a set of possible probability distributions over a set of prizes. Every criterion in the family compares sets on the basis of their conditional expected utility , for some “likelihood” function taking strictly positive values and some utility function both having the universe of alternatives as their domain.

Technical Details

RePEc Handle
repec:eee:mateco:v:78:y:2018:i:c:p:79-95
Journal Field
Theory
Author Count
3
Added to Database
2026-01-25