Guessing the beliefs
AbstractA decision maker facing Knightian uncertainty is about to tell if he prefers an act X or Y. Two agents try to guess what he is going to do. All of them have preferences that achieve a separation of utility from beliefs. The only thing that the two agents do not know is the beliefs, so they evaluate them. We give a definition of "guessing better" and deal with its implications. We study particular cases as subjective expected utility and Choquet expected utility.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 45 (2009)
Issue (Month): 12 (December)
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Web page: http://www.elsevier.com/locate/jmateco
Separation of utility and beliefs Non-additive expected utility Choquet expected utility;
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