Theory of Decision Under Uncertainty

Erscheinungsjahr 2010
ISBN: 978-0-521-74123-1
Verlag: Cambridge University Press

Buch, Englisch, Band 45, 230 Seiten, Format (B × H): 152 mm x 229 mm, Gewicht: 380 g

Reihe: Econometric Society Monographs

This 2009 book describes the classical axiomatic theories of decision under uncertainty, as well as critiques thereof and alternative theories. It focuses on the meaning of probability, discussing some definitions and surveying their scope of applicability. The behavioral definition of subjective probability serves as a way to present the classical theories, culminating in Savage's theorem. The limitations of this result as a definition of probability lead to two directions - first, similar behavioral definitions of more general theories, such as non-additive probabilities and multiple priors, and second, cognitive derivations based on case-based techniques.

Autoren/Hrsg.

Gilboa, Itzhak

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Wirtschaftstheorie, Wirtschaftsphilosophie

Inhaltsverzeichnis

1. Preface; 2. Motivating examples; 3. Free will and determinism; 4. The principle of indifference; 5. Relative frequencies; 6. Subjective probabilities; 7. A case study; 8. The role of theories; 9. Von Neumann and Morgenstern's theorem; 10. De Finetti's theorem; 11. Savage's theorem; 12. The definition of states; 13. A critique of Savage; 14. Objectivity and rationality; 15. Anscombe-Aumann's theorem; 16. Choquet expected utility; 17. Prospect theory; 18. Maxmin expected utility; 19. Case-based qualitative beliefs; 20. Frequentism revisited; 21. Future research.

Über Autor(innen)

Gilboa, Itzhak
Itzhak Gilboa is Professor in the Berglas School of Economics, Tel-Aviv University, and Professor in the newly established Department of Economics and Decision Science, HEC, Paris. Earlier, he became a chaired professor at Northwestern University in 1992, visited at the Department of Economics, University of Pennsylvania (1995–7), and was a Professor at Boston University (1997–9). Professor Gilboa also served as a Fellow at the Cowles Foundation at Yale University from 2001 to 2007. The recipient of a Sloan Fellowship, among other awards, he has published articles in the leading economic theory journals, primarily on decision under uncertainty. Professor Gilboa coauthored A Theory of Case-Based Decisions with David Schmeidler (Cambridge University Press, 2001). He received his Ph.D. from Tel-Aviv University in 1987.