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11,480
Psychological Expected Utility Theory and Anticipatory Feelings
- Center, New York University
, 1997
"... We extend expected utility theory to situations in which agents experience feelings of anticipation prior to the resolution of uncertainty. We show how these anticipatory feelings may result in time inconsistency. We provide an example from portfolio theory to illustrate the potential impact of anti ..."
Abstract
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Cited by 235 (8 self)
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We extend expected utility theory to situations in which agents experience feelings of anticipation prior to the resolution of uncertainty. We show how these anticipatory feelings may result in time inconsistency. We provide an example from portfolio theory to illustrate the potential impact
On the Foundations of Expected Expected Utility
, 2001
"... Intelligent agents often need to assess user utility functions in order to make decisions on their behalf, or predict their behavior. When uncertainty exists over the precise nature of this utility function, one can model this uncertainty using a distribution over utility functions. This view l ..."
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Cited by 17 (2 self)
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lies at the core of games with incomplete information and, more recently, several proposals for incremental preference elicitation. In such cases, decisions (or predicted behavior) are based on computing the expected expected utility (EEU) of decisions with respect to the distribution over
Subjective Ambiguity, Expected Utility and Choquet Expected Utility
- Economic Theory
"... Summary. Using the Savage set up, this paper provides a simple axiomatization of the Choquet Expected Utility model where the capacity is an inner measure. Two attractive features of the model are its specificity and the transparency of its axioms. The key axiom states that the decision-maker uses ..."
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Cited by 5 (1 self)
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Summary. Using the Savage set up, this paper provides a simple axiomatization of the Choquet Expected Utility model where the capacity is an inner measure. Two attractive features of the model are its specificity and the transparency of its axioms. The key axiom states that the decision-maker uses
Stochastic Expected Utility Theory
- Journal of Risk and Uncertainty
, 2007
"... This paper proposes a new model that explains the violations of expected utility theory through the role of random errors. The paper analyzes decision making under risk when individuals make random errors when they compute expected utilities. Errors are drawn from the normal distribution, which is t ..."
Abstract
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Cited by 13 (0 self)
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This paper proposes a new model that explains the violations of expected utility theory through the role of random errors. The paper analyzes decision making under risk when individuals make random errors when they compute expected utilities. Errors are drawn from the normal distribution, which
Expected utility: a defense
"... In recent papers Matthew Rabin and Richard H. Thaler have argued that expected utility theory generates implausible predictions about individuals ' attitudes toward small vs. large risks. Specifically, these authors argued that expected utility theory, plus the assertion that individuals reject ..."
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Cited by 2 (0 self)
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In recent papers Matthew Rabin and Richard H. Thaler have argued that expected utility theory generates implausible predictions about individuals ' attitudes toward small vs. large risks. Specifically, these authors argued that expected utility theory, plus the assertion that individuals
Expected Utility Theory (EUT)
"... � Current radio technologies and associated communication protocols are still mostly agnostic to the decision-making of end-users “Engineered System Design ” where underlying algorithms/protocols designed based on precepts of Expected Utility Theory (EUT) Radio resource management algorithms and pro ..."
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� Current radio technologies and associated communication protocols are still mostly agnostic to the decision-making of end-users “Engineered System Design ” where underlying algorithms/protocols designed based on precepts of Expected Utility Theory (EUT) Radio resource management algorithms
Projective Expected Utility
, 802
"... Motivated by several classic decision-theoretic paradoxes, and by analogies with the paradoxes which in physics motivated the development of quantum mechanics, we introduce a projective generalization of expected utility along the lines of the quantum-mechanical generalization of probability theory. ..."
Abstract
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Cited by 6 (0 self)
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Motivated by several classic decision-theoretic paradoxes, and by analogies with the paradoxes which in physics motivated the development of quantum mechanics, we introduce a projective generalization of expected utility along the lines of the quantum-mechanical generalization of probability theory
Are small groups expected utility
, 2012
"... In this paper we analyse the empirical performance of several preference functionals using individual and group data. Our investigation aims to address two fundamental questions that have, until now, not been addressed in literature. Specifically, we intend to assess if there exists a risky choice t ..."
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Cited by 1 (1 self)
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by small groups (dyads in our case), disappointment aversion outperforms several alternative preference functionals, including expected utility. Since expected utility typically emerged as the dominant model in individual risky choices, this finding suggests that differences between individual and group
Results 1 - 10
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11,480
