Decisions under imperfect knowledge: The certainty equivalence theory as an alternative to the Von Neumann-Morgenstern theory of uncertainty [Book Review]
Erkenntnis 20 (3):295 - 328 (1983)
|Abstract||This paper offers a modified version of the certainty equivalence (CE) theory of utility for uncertain prospects and a new set of axioms as its basis. It shows that the CE and the von Neumann-Morgenstern (NM) approaches to uncertainty are opposite in spirit: The CE approach represents a flight from the world of uncertainty to the rules of certainty while the NM approach represents a flight from the world of certainty to one of uncertainty. The two approaches differ even in their treatment of compound prospects and their actuarially identical simple counterparts.|
|Keywords||No keywords specified (fix it)|
No categories specified
(categorize this paper)
|Through your library||Configure|
Similar books and articles
Rolf Aaberge (2011). Empirical Rules of Thumb for Choice Under Uncertainty. Theory and Decision 71 (3):431-438.
William Harper (1988). Decisions, Games and Equilibrium Solutions. PSA: Proceedings of the Biennial Meeting of the Philosophy of Science Association 1988:344 - 362.
David Hawkins (1945). Book Review:Theory of Games and Economic Behavior John von Neumann, Oskar Morgenstern. [REVIEW] Philosophy of Science 12 (3):221-.
Eric Swanson (2009). How Not to Theorize About the Language of Subjective Uncertainty. In Andy Egan & B. Weatherson (eds.), Epistemic Modality. Oxford University Press.
Niki Pfeifer (2007). Rational Argumentation Under Uncertainty. In G. Kreuzbauer, N. Gratzl & E. Hiebl (eds.), Persuasion Und Wissenschaft: Aktuelle Fragestellungen von Rhetorik Und Argumentationstheorie. Lit.
George Wu (1999). Anxiety and Decision Making with Delayed Resolution of Uncertainty. Theory and Decision 46 (2):159-199.
Carl A. Rubino (2000). The Politics of Certainty: Conceptions of Science in an Age of Uncertainty. Science and Engineering Ethics 6 (4):499-508.
Miklós Rédei (1987). Reformulation of the Hidden Variable Problem Using Entropic Measure of Uncertainty. Synthese 73 (2):371 - 379.
Luigi Bonatti (1984). Uncertainty: Studies in Philosophy, Economics, and Socio-Political Theory. B.R. Grüner.
Phan H. Giang & Prakash P. Shenoy (2000). A Qualitative Linear Utility Theory for Spohn's Theory of Epistemic Beliefs. In C. Boutilier & M. Goldszmidt (eds.), Uncertainty in Artificial Intelligence 16. Morgan Kaufmann.
Added to index2009-01-28
Total downloads6 ( #154,724 of 722,874 )
Recent downloads (6 months)1 ( #60,917 of 722,874 )
How can I increase my downloads?