Conditional preferences and updating.
Although the Savage axiomatic is a foundation of the tradicional decision making under uncertainty, the Savage paradigm has been challenged by the results of psychological experiments. The present paper studies individual preferences not necessary corresponding to the expected utility theory based on the Savage paradigm. Three rules of updating the individual preferences are axiomatized: the classical Bayes rule, the Dempster-Shafer rule, and the generalized Bayes rule. Related literature is reviewed, detailed proofs of the mathematical statements are presented as their interpretation in terms of individual preferences.
scientific article; zbMATH DE number 1924803
scientific article