Zoekopdracht:
faculteit: "FEB" en publicatiejaar: "1993"
| Auteur | P.P. Wakker | | Titel | Unbound utility for Savage's "Foundations of statistics" and other models |
| Tijdschrift | Mathematical of operations research |
| Jaargang | 18 |
| Jaar | 1993 |
| Nummer | 18 |
| Pagina's | 446-485 |
| ISSN | 00220531 |
| Faculteit | Faculteit Economie en Bedrijfskunde |
| Instituut/afd. | FEB: Research Institute in Economics and Econometrics Amsterdam (RESAM) |
| Trefwoorden | Decision-making uner risk and uncertainty; Mathematical methods; Utility |
| Samenvatting | A general procedure for extending finite-dimensional additive-like representations to infinite-dimensional integral-like representations is developed by means of a condition called truncation-continuity. The restriction of boundedness of utility, met throughout the literature, can now be dispensed with, and for instance normal distributions, or any other distribution with finite first moment, can be incorporated. Classical representation results of expected utility, such as Savage (1954), von Neumann & Morgenstern (1944), Anscombe & Aumann (1963), de Finetti (1937), and many others, can now be extended. The results are generalized to Schmeidler's approach with nonadditive measures and Choquet integrals. The different approaches have been brought together in this long paper to bring to the fore the unity in the extension process. |
| Soort document | Artikel |
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