IDEAS home Printed from https://ideas.repec.org/p/fth/teavfo/2001-18.html

A Derivation of Expected Utility Maximization in the Context of a Game

Author

Listed:
  • Gilboa, I.
  • Schmeidler, D.

Abstract

A decision maker faces a decision problem, or a game against nature. For each probability distribution over the state of the world (nature`s strategies), she has a weak order over her acts (pure strategies). We formulate conditions on these weak orders guaranteeing that they can be jointly represented by expected utility maximization with respect to an almost-unique state-dependent utility, that is, a matrix assigning real numbers to act-state pairs.

Suggested Citation

  • Gilboa, I. & Schmeidler, D., 2001. "A Derivation of Expected Utility Maximization in the Context of a Game," Papers 2001-18, Tel Aviv.
    • Handle: RePEc:fth:teavfo:2001-18
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    Other versions of this item:

    Citations

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


    Cited by:

    1. is not listed on IDEAS
    2. Brandl, Florian & Brandt, Felix, 2019. "Justifying optimal play via consistency," Theoretical Economics, Econometric Society, vol. 14(4), November.
    3. Pierfrancesco Guarino, 2023. "Revealing Sequential Rationality and Forward Induction," Papers 2312.03536, arXiv.org.
    4. Azrieli, Yaron, 2011. "Axioms for Euclidean preferences with a valence dimension," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 545-553.
    5. O'Callaghan, Patrick, 2016. "Minimal conditions for parametric continuity and stable policy in extreme settings," MPRA Paper 70989, University Library of Munich, Germany.
    6. Castillo, Marco E. & Cross, Philip J. & Freer, Mikhail, 2019. "Nonparametric utility theory in strategic settings: Revealing preferences and beliefs from proposal–response games," Games and Economic Behavior, Elsevier, vol. 115(C), pages 60-82.
    7. Grant, Simon & Meneghel, Idione & Tourky, Rabee, 2016. "Savage games," Theoretical Economics, Econometric Society, vol. 11(2), May.
    8. O’Callaghan, Patrick H., 2017. "Axioms for parametric continuity of utility when the topology is coarse," Journal of Mathematical Economics, Elsevier, vol. 72(C), pages 88-94.
    9. O’Callaghan, Patrick, 2011. "Context and Decision: Utility on a Union of Mixture Spaces," The Warwick Economics Research Paper Series (TWERPS) 973, University of Warwick, Department of Economics.
    10. Li, Chen & Turmunkh, Uyanga & Wakker, Peter P., 2020. "Social and strategic ambiguity versus betrayal aversion," Games and Economic Behavior, Elsevier, vol. 123(C), pages 272-287.
    11. Perea, Andrés, 2025. "Dynamic consistency in games without expected utility," Journal of Economic Theory, Elsevier, vol. 229(C).
    12. Salonia, Enrico Mattia, 2024. "A Foundation for Universalisation in Games," TSE Working Papers 24-1586, Toulouse School of Economics (TSE).
    13. Mehmet S. Ismail & Ronald Peeters, 2023. "Social preferences and expected utility," Papers 2312.06048, arXiv.org.
    14. Florian Brandl & Felix Brandt, 2023. "A Robust Characterization of Nash Equilibrium," Papers 2307.03079, arXiv.org, revised Jun 2024.
    15. Brandl, Florian & Brandt, Felix, 2024. "An axiomatic characterization of Nash equilibrium," Theoretical Economics, Econometric Society, vol. 19(4), November.
    16. O'Callaghan, Patrick, 2016. "Parametric continuity from preferences when the topology is weak and actions are discrete," MPRA Paper 72356, University Library of Munich, Germany.
    17. O'Callaghan, Patrick, 2011. "Context and Decision: Utility on a Union of Mixture Spaces," Economic Research Papers 270751, University of Warwick - Department of Economics.
    18. O'Callaghan, Patrick, "undated". "Ordinal, nonlinear context dependence," Risk and Sustainable Management Group Working Papers 152450, University of Queensland, School of Economics.
    19. Castillo, Marco E. & Cross, Philip J., 2008. "Of mice and men: Within gender variation in strategic behavior," Games and Economic Behavior, Elsevier, vol. 64(2), pages 421-432, November.
    20. Marciano Siniscalchi, 2022. "Structural Rationality in Dynamic Games," Econometrica, Econometric Society, vol. 90(5), pages 2437-2469, September.
    21. Chambers, Christopher P. & Hayashi, Takashi, 2012. "Choice and individual welfare," Journal of Economic Theory, Elsevier, vol. 147(5), pages 1818-1849.
    22. Andrés Perea, 2025. "Expected utility as an expression of linear preference intensity," Theory and Decision, Springer, vol. 98(4), pages 561-598, June.

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

    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:fth:teavfo:2001-18. 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: Thomas Krichel (email available below). General contact details of provider: https://edirc.repec.org/data/fotauil.html .

    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.