On the Representation of Beliefs by Probabilities.

B-Tier
Journal: Journal of Risk and Uncertainty
Year: 2003
Volume: 26
Issue: 1
Pages: 17-38

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

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

Abstract

This paper explores two axiomatic structures of subjective expected utility assuming a finite state-space and state-dependent, connected, topological outcome-spaces. Building on the work of Karni and Schmeidler (1981) the analytical framework includes, in addition to the preference relation on acts, introspective preferences on hypothetical lotteries that are linked to the preference relation on acts by consistency axioms. The two models accommodate state-dependent preferences and yield subjective probabilities that correctly represent the decision-maker's beliefs. State-independent preferences are a special case. Copyright 2003 by Kluwer Academic Publishers

Technical Details

RePEc Handle
repec:kap:jrisku:v:26:y:2003:i:1:p:17-38
Journal Field
Theory
Author Count
1
Added to Database
2026-01-25