Upper and lower bounds for expected utility
The decision-theoretic literature has developed very few techniques to bound the expected utility of a random variable when only simple statistics like its median or mode or mean are known. One reason for this lack of results is that we are missing a convenient way to link probability theory and expected utility. This paper is written to demonstrate a general (and genuinely probabilistic) technique to obtain upper and lower bounds for the expected utility of a lottery. Copyright Springer-Verlag Berlin Heidelberg 2000
Volume (Year): 16 (2000)
Issue (Month): 2 (September)
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