Subjective Expected Utility With a Spectral State Space

2018 ◽  
Author(s):  
Marcus Pivato
Keyword(s):  
State Space ◽  
Expected Utility ◽  
Subjective Expected Utility ◽  
Spectral State

scholarly journals On the Rejectability of the Subjective Expected Utility Theory

2016 ◽  
Vol 16 (2) ◽  
Author(s):  
Konrad Grabiszewski
Keyword(s):  
State Space ◽  
Expected Utility ◽  
Utility Theory ◽  
Expected Utility Theory ◽  
Subjective Expected Utility ◽  
Subjective Expected Utility Theory ◽  
Robustness Check

AbstractState space, a key element of the Subjective Expected Utility (SEU) theory, is not observable. This implies that, in order to test the SEU theory, it is necessary to assume some state space. Consequently, if the SEU theory is rejected, then it is appropriate to conduct a robustness check; that is, to search for a different state space and a probability over that state space which together do not lead to the rejection of the SEU theory. To find such state space and probability means to SEU-rationalize the agent’s behavior. I show how to conduct the process of SEU-rationalization and determine when an SEU-rationalization is possible.

Reasonable Care under Uncertainty

2019 ◽  
pp. 74-86
Author(s):  
Charles F. Manski
Keyword(s):  
State Space ◽  
Decision Maker ◽  
Expected Utility ◽  
Rational Expectations ◽  
Decision Criterion ◽  
The State ◽  
Minimax Regret ◽  
Subjective Expected Utility ◽  
Reasonable Care ◽  
States Of Nature

This chapter develops decision-theoretic principles for reasonable care under uncertainty. It discusses some reasonable ways to choose among undominated actions. When addressing this issue, decision theorists have distinguished three primary situations regarding information that a decision maker may or may not have beyond specification of the state space: decisions with rational expectations, maximization of subjective expected utility, and decisions under ambiguity. When making a choice under ambiguity, a reasonable way to act is to use a decision criterion that achieves adequate performance in all states of nature. There are multiple ways to formalize this idea. The two most commonly studied are the maximin and minimax-regret (MR) criteria.

scholarly journals Quantum-like model of subjective expected utility

2018 ◽  
Vol 78 ◽  
pp. 150-162 ◽  
Author(s):  
Irina Basieva ◽  
Polina Khrennikova ◽  
Emmanuel M. Pothos ◽  
Masanari Asano ◽  
Andrei Khrennikov
Keyword(s):  
Expected Utility ◽  
Subjective Expected Utility
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