Conditional preferences and updating.
type: Item
instance of: scholarly article
title: Conditional preferences and updating.
zbMATH Open document ID: 1040.91033
DOI: 10.1016/S0022-0531(03)00028-0
author: Tan Wang
published in: Journal of Economic Theory
publication date: 2003-06-09T00:00:00Z
review text: 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.
Mathematics Subject Classification ID: 91B08
Mathematics Subject Classification ID: 91B06
zbMATH DE Number: 1924803
zbMATH Keywords: uncertainty
zbMATH Keywords: ambiguity
zbMATH Keywords: learning
zbMATH Keywords: updating rules
reviewed by: Antanas Žilinskas
MaRDI profile type: Publication
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full work available at URL: s0022-0531(03)00028-0
OpenAlex ID: W2128325556
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description: scientific article; zbMATH DE number 1924803