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Zoekopdracht: faculteit: "FEB" en publicatiejaar: "1985"

AuteurP.P. Wakker
TitelContinuous expected utility for arbitrary state spaces
TijdschriftMethods of operations research
Jaargang50
Jaar1985
Pagina's113-129
ISSN14322994
FaculteitFaculteit Economie en Bedrijfskunde
Instituut/afd.FEB: Research Institute in Economics and Econometrics Amsterdam (RESAM)
TrefwoordenDecision-making; Mathematical methods; Utility
SamenvattingSubjective expected utility maximization with continuous utility is characterized, extending the result of Wakker (1984, Journal of Mathematical Psychology) to infinite state spaces. In Savage (1954, The Foundations of Statistics) the main restriction, P6, requires structure for the state space, e.g. this must be infinite. The main restriction of this paper, requiring continuity of the utility function, may be more natural in economic contexts, since it is based on topological structure of the consequence space, structure that usually is present in economic contexts anyhow. Replacing the state interpretation by a time interpretation yields a characterization for dynamic contexts.
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