subjective expected utility with state-dependent but action/observation-independent preferences

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ID: 172534
2018
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Abstract
Under state-dependent preferences, probabilities and units of scale of state-dependent utilities are not separately identified. In standard models, only their products matter to decisions. Separate identification has been studied under implicit actions by Drèze or under explicit actions and observations by Karni. This paper complements both approaches and relates them when conditional preferences for final outcomes are independent of actions and observations. That special case permits drastic technical simplification while remaining open to some natural extensions.
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drze2018riskssubjective Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors ;Jacques H. Drèze
Journal world neurosurgery
Year 2018
DOI
10.3390/risks6020030
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