Expected utility with lower probabilities

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningfagfællebedømt

An uncertain and not just risky situation may be modeled using so-called belief functions assigning lower probabilities to subsets of outcomes. In this article we extend the von Neumann-Morgenstern expected utility theory from probability measures to belief functions. We use this theory to characterize uncertainty neutrality and different degrees of uncertainty aversion
OriginalsprogEngelsk
TidsskriftJournal of Risk and Uncertainty
Vol/bind8
Udgave nummer2
Sider (fra-til)197-216
ISSN0895-5646
DOI
StatusUdgivet - 1994

Bibliografisk note

JEL clasification: D81

ID: 157248