Subjective expected utility theory with state-dependent preferences
type: Item
instance of: scholarly article
title: Subjective expected utility theory with state-dependent preferences
zbMATH Open document ID: 0789.90006
author: Edi Karni
published in: Journal of Economic Theory
publication date: 1994-06-14T00:00:00Z
review text: This paper extends Savage's subjective expected utility theory to include state-dependent preferences. The dependence of the decision maker's preferences over consequences on the states of nature is represented by state-specific mappings of the set of consequences onto itself. Within this framework Savage's postulates are reformulated and it is shown that there exists subjective expected utility representations of the preference relation over acts with a unique, nonatomic, probability measure on the algebra of all events, and a state-dependent utility function over the set of consequences.
Mathematics Subject Classification ID: 91B16
zbMATH DE Number: 465082
zbMATH Keywords: Savage'e subjective expected utility theory
zbMATH Keywords: state-dependent preferences
MaRDI profile type: Publication
full work available at URL: jeth.1993.1051
OpenAlex ID: W1968537734
DOI: 10.1006/JETH.1993.1051
description: scientific article; zbMATH DE number 465082