On the Foundation of Decision Making under Partial Information

Insua, D.R. (1990). On the Foundation of Decision Making under Partial Information. IIASA Working Paper. IIASA, Laxenburg, Austria: WP-90-049

Preview

Text WP-90-049.pdf Download (507kB) | Preview

Abstract

The author shows how to model imprecision in the decision maker's judgements, within a Bayesian context. He provides axioms leading to work with families of value functions, if the problem is under certainty, or probability distributions and utility functions, if the problem is under uncertainty, or probability distributions and utility functions, if the problem is under uncertainty. Some solution concepts are suggested. On the whole, he provides a robust decision theory based on a set of axioms embodying coherence, and essentially implies carrying out a family of coherent decision analyses.

Actions (login required)

View Item