IDEAS home Printed from https://ideas.repec.org/a/spr/annopr/v80y1998i0p207-23510.1023-a1018963914548.html
   My bibliography  Save this article

Imprecise sampling and direct decision making

Author

Listed:
  • Christophe Gonzales
  • Jean-Yves Jaffray

Abstract

In decision theory, uncertainty is generally modeled through probabilities or probabilityintervals. Data however, when collected by sampling, do not provide probabilities (resp.,lower/upper probabilities) but frequencies (resp., lower/upper frequencies). Discrepanciesbetween the former and the latter are taken into account by the model presented: axiomaticrequirements are shown to imply that the ordering of the decisions must only depend on aquadruple (GEU, u, U, N), where GEU is the generalized expected utility evaluation of thedecision that would result from the assimilation of frequencies to lower/upper probabilities;u and U are the utility levels of, respectively, the worst and the best reachable outcomes;and N is the size of the sample. Additional axioms are given that ensure the existence of anadditive utility representing the ordering. Copyright Kluwer Academic Publishers 1998

Suggested Citation

  • Christophe Gonzales & Jean-Yves Jaffray, 1998. "Imprecise sampling and direct decision making," Annals of Operations Research, Springer, vol. 80(0), pages 207-235, January.
    • Handle: RePEc:spr:annopr:v:80:y:1998:i:0:p:207-235:10.1023/a:1018963914548
    DOI: 10.1023/A:1018963914548
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1023/A:1018963914548
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1023/A:1018963914548?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Eichberger, Jürgen & Guerdjikova, Ani, 2010. "Case-based belief formation under ambiguity," Mathematical Social Sciences, Elsevier, vol. 60(3), pages 161-177, November.
    2. Dong-Ling Xu, 2012. "An introduction and survey of the evidential reasoning approach for multiple criteria decision analysis," Annals of Operations Research, Springer, vol. 195(1), pages 163-187, May.
    3. Ayala Arad & Gabrielle Gayer, 2012. "Imprecise Data Sets as a Source of Ambiguity: A Model and Experimental Evidence," Management Science, INFORMS, vol. 58(1), pages 188-202, January.
    4. Eichberger, Jürgen & Guerdjikova, Ani, 2008. "Multiple Priors as Similarity Weighted Frequencies," Papers 08-07, Sonderforschungsbreich 504.
    5. Eichberger, Jurgen & Guerdjikova, Ani, 2007. "Multiple Priors as Similarity Weighted Frequencies," Working Papers 07-03, Cornell University, Center for Analytic Economics.
    6. Eichberger, Jürgen & Guerdjikova, Ani, 2013. "Ambiguity, data and preferences for information – A case-based approach," Journal of Economic Theory, Elsevier, vol. 148(4), pages 1433-1462.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:annopr:v:80:y:1998:i:0:p:207-235:10.1023/a:1018963914548. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.