Carnegie Mellon University
Browse
file.pdf (338.6 kB)

Coherent Choice Functions under Uncertainty

Download (338.6 kB)
journal contribution
posted on 2007-08-01, 00:00 authored by Teddy Seidenfeld, Mark J. Schervish, Joseph B. Kadane

We discuss several features of coherent choice functions - where the admissible options in a decision problem are exactly those which maximize expected utility for some probability/utility pair in fixed set S of probability/utility pairs. In this paper we consider, primarily, normal form decision problems under uncertainty - where only the probability component of S is indeterminate. Coherent choice distinguishes between each pair of sets of probabilities. We axiomatize the theory of choice functions and show these axioms are necessary for coherence. The axioms are sufficient for coherence using a set of probability/almost-state-independent utility pairs. We give sufficient conditions when a choice function satisfying our axioms is represented by a set of probability/state-independent utility pairs with a common utility.

History

Publisher Statement

All Rights Reserved

Date

2007-08-01

Usage metrics

    Exports

    RefWorks
    BibTeX
    Ref. manager
    Endnote
    DataCite
    NLM
    DC