Rational choice using imprecise probabilities and utilities:

An agent often does not have precise probabilities or utilities to guide resolution of a decision problem. I advance a principle of rationality for making decisions in such cases. To begin, I represent the doxastic and conative state of an agent with a set of pairs of a probability assignment and a...

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Bibliographic Details
Main Author: Weirich, Paul 1946- (Author)
Format: Electronic eBook
Language:English
Published: Cambridge Cambridge University Press 2021
Series:Cambridge elements
Subjects:
Online Access:BSB01
UBG01
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Summary:An agent often does not have precise probabilities or utilities to guide resolution of a decision problem. I advance a principle of rationality for making decisions in such cases. To begin, I represent the doxastic and conative state of an agent with a set of pairs of a probability assignment and a utility assignment. Then I support a decision principle that allows any act that maximizes expected utility according to some pair of assignments in the set. Assuming that computation of an option's expected utility uses comprehensive possible outcomes that include the option's risk, no consideration supports a stricter requirement
Item Description:Title from publisher's bibliographic system (viewed on 22 Feb 2021)
Physical Description:1 Online-Ressource (72 Seiten)
ISBN:9781108582209
DOI:10.1017/9781108582209

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