Expected Utility without Parsimony

Abstract : This paper seeks to interpret observable behavior and departures from Savage's model of Subjective Expected Utility (SEU) in terms of knowledge and belief. It is shown that observable behavior displays sensitivity to ambiguity if and only if knowledge and belief disagree. In addition, such an epistemic interpretation of ambiguity leads to dynamically consistent extensions of non-SEU preferences.
Document type :
Other publications
Complete list of metadatas

Cited literature [21 references]  Display  Hide  Download

https://halshs.archives-ouvertes.fr/halshs-01021392
Contributor : Lucie Label <>
Submitted on : Wednesday, July 9, 2014 - 12:19:06 PM
Last modification on : Sunday, January 19, 2020 - 6:38:25 PM
Long-term archiving on: Thursday, October 9, 2014 - 11:58:21 AM

File

14048.pdf
Files produced by the author(s)

Identifiers

  • HAL Id : halshs-01021392, version 1

Collections

Citation

Antoine Billot, Vassili Vergopoulos. Expected Utility without Parsimony. 2014. ⟨halshs-01021392⟩

Share

Metrics

Record views

882

Files downloads

434