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A Single-Stage Approach to Anscombe and Aumann's Expected Utility Author info | Abstract | Publisher info | Download info | Related research | Statistics Sarin, Rakesh
Wakker, Peter
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F. J. Anscombe and R. J. Aumann (1963) showed that, if one accepts the existence of a physical randomizing device such as a roulette wheel, then L. J. Savage's derivation of subjective expected utility can be considerably simplified. They, however, invoked compound gambles to define their axioms. The authors demonstrate that the subjective expected utility derivation can be further simplified and need not invoke compound gambles. Their simplification is obtained by closely following the steps by which probabilities and utilities are elicited. Copyright 1997 by The Review of Economic Studies Limited.
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Article provided by Blackwell Publishing in its journal Review of Economic Studies .
Volume (Year): 64 (1997)
Issue (Month): 3 (July)
Pages: 399-409
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Handle: RePEc:bla:restud:v:64:y:1997:i:3:p:399-409Contact details of provider: Web page: http://www.blackwellpublishing.com/journal.asp?ref=0034-6527
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Quiggin, John, 1990.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Francis C. Chu & Joseph Y. Halpern, 2004.
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Vincent Feltkamp & Yoram Halevy, 1999.
"- A Bayesian Approach To Uncertainty Aversion ,"
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Yoram Halevy & Vincent Feltkamp, .
"A Bayesian Approach to Uncentainty Aversion ,"
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"A Bayesian Approach to Uncertainty Aversion ,"
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"A Bayesian Approach to Uncertainty Aversion ,"
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[Downloadable!] Yoram Halevy & Vincent Feltkamp, 2005.
"A Bayesian Approach to Uncertainty Aversion ,"
Review of Economic Studies ,
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