کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
965908 | 1479260 | 2015 | 6 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Worst-case expected utility
ترجمه فارسی عنوان
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
ریاضیات کاربردی
چکیده انگلیسی
The paper presents a model in which a decision maker, having a preference relation over purely subjective acts, slightly deviates from the Subjective Expected Utility decision rule, exhibiting an uncertainty averse behavior aÌ-la Schmeidler (1989). The resulting representation is as if the decision maker adds to the formulation of the problem one new state, representing the occurrence of some unforeseen event. Each Savage act is extended to the new, endogenous state by assigning this state with the worst consequence the act obtains on all other, primitive states. On the extended decision problem a Subjective Expected Utility rule is applied. The representation thus expresses the common practice of a 'worst-case scenario' assumption as means to cope with unforeseen contingencies. The model is a special case of the neo-additive capacities model of Chateauneuf, Eichberger and Grant.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Economics - Volume 60, October 2015, Pages 43-48
Journal: Journal of Mathematical Economics - Volume 60, October 2015, Pages 43-48
نویسندگان
Shiri Alon,