Expected utility with lower probabilities
Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
An uncertain and not just risky situation may be modeled using so-called belief functions assigning lower probabilities to subsets of outcomes. In this article we extend the von Neumann-Morgenstern expected utility theory from probability measures to belief functions. We use this theory to characterize uncertainty neutrality and different degrees of uncertainty aversion
Originalsprog | Engelsk |
---|---|
Tidsskrift | Journal of Risk and Uncertainty |
Vol/bind | 8 |
Udgave nummer | 2 |
Sider (fra-til) | 197-216 |
ISSN | 0895-5646 |
DOI | |
Status | Udgivet - 1994 |
Bibliografisk note
JEL clasification: D81
ID: 157248