Theory of Decision Under Uncertainty
Book Details
Format
Paperback / Softback
Book Series
Econometric Society Monographs
ISBN-10
0521741238
ISBN-13
9780521741231
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Mar 16th, 2009
Print length
230 Pages
Weight
366 grams
Dimensions
22.80 x 15.30 x 1.40 cms
Product Classification:
Economic theory & philosophyEconomic theory and philosophy
Ksh 5,350.00
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This book describes classical axiomatic theories of decision under uncertainty, critiques thereof, and alternative theories. It discusses the meaning of probability, focusing on the behavioral definition of subjective probability by Savage's theorem. It presents non-additive and multiple prior theories, as well as the case-based approach to the formation of beliefs.
This 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.
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