Decision making with unreliable probabilities
Författare
Summary, in English
This paper presents a decision theory which allows subjects to account for the uncertainties of their probability estimates. This is accomplished by modelling beliefs about states of nature by means of a class of probability measures. In order to represent uncertainties of those beliefs a measure of epistemic reliability is introduced. The suggested decision theory is evaluated in the light of empirical evidence on ambiguity and uncertainty in decision making. The theory is also compared to Tversky & Kahneman's prospect theory.
Avdelning/ar
Publiceringsår
1983
Språk
Engelska
Sidor
240-251
Publikation/Tidskrift/Serie
British Journal of Mathematical & Statistical Psychology
Volym
36
Issue
2
Länkar
Dokumenttyp
Artikel i tidskrift
Förlag
The British Psychological Society
Ämne
- Philosophy
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 0007-1102