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A mathematical introduction to transitional lotteries

Author

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  • Strati, Francesco

Abstract

When we face a decision matter we do not face a frozen-time where all keep still while we are making a decision, but the time goes by and the probability distribution keeps moving by new available information. In this paper I want to build up the mathematical framework of a special kind of lottery: the transitional lotteries. This theory could be helpful to give to the decision theory a new key so as to dene a more accurate mental path. In orther to do that we will need a mathematical framework based upon the Kolmogorov operator which will be our transitional object, the core of this kind of lottery.

Suggested Citation

  • Strati, Francesco, 2012. "A mathematical introduction to transitional lotteries," MPRA Paper 39377, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:39377
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    File URL: https://mpra.ub.uni-muenchen.de/39377/1/MPRA_paper_39377.pdf
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    More about this item

    Keywords

    Kolmogorov equations; Decision theory; lotteries;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics

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