Mathematical Utility Theory
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Mathematical Utility Theory
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Author : Gerhard Herden
language : en
Publisher: Springer
Release Date : 1999-06-10
Mathematical Utility Theory written by Gerhard Herden and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-06-10 with Business & Economics categories.
This proceedings volume of an international conference which took place in Essen in October 1997 brings together economists, mathematicians, and psychologists. Their contributions represent new research in the field of mathematical utility theory with an emphasis on its applications in the social sciences. Readers of this volume can inform themselves about novel results in mathematical utility theory and their significance for the social sciences. The contributions cover a spectrum of fields from topological methods in utility theory to the application of experimental methods to utility theory.
Mathematical Topics On Representations Of Ordered Structures And Utility Theory
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Author : Gianni Bosi
language : en
Publisher: Springer Nature
Release Date : 2020-01-23
Mathematical Topics On Representations Of Ordered Structures And Utility Theory written by Gianni Bosi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-23 with Technology & Engineering categories.
This book offers an essential review of central theories, current research and applications in the field of numerical representations of ordered structures. It is intended as a tribute to Professor Ghanshyam B. Mehta, one of the leading specialists on the numerical representability of ordered structures, and covers related applications to utility theory, mathematical economics, social choice theory and decision-making. Taken together, the carefully selected contributions provide readers with an authoritative review of this research field, as well as the knowledge they need to apply the theories and methods in their own work.
Introduction To Statistical Decision Theory
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Author : Silvia Bacci
language : en
Publisher: CRC Press
Release Date : 2019-07-11
Introduction To Statistical Decision Theory written by Silvia Bacci and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-11 with Mathematics categories.
Introduction to Statistical Decision Theory: Utility Theory and Causal Analysis provides the theoretical background to approach decision theory from a statistical perspective. It covers both traditional approaches, in terms of value theory and expected utility theory, and recent developments, in terms of causal inference. The book is specifically designed to appeal to students and researchers that intend to acquire a knowledge of statistical science based on decision theory. Features Covers approaches for making decisions under certainty, risk, and uncertainty Illustrates expected utility theory and its extensions Describes approaches to elicit the utility function Reviews classical and Bayesian approaches to statistical inference based on decision theory Discusses the role of causal analysis in statistical decision theory
Utility And Probability
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Author : John Eatwell
language : en
Publisher: Springer
Release Date : 1990-02-23
Utility And Probability written by John Eatwell and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-02-23 with Business & Economics categories.
This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on utility and probability.
Nonlinear Preference And Utility Theory
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Author : Peter C. Fishburn
language : en
Publisher:
Release Date : 1988
Nonlinear Preference And Utility Theory written by Peter C. Fishburn and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Mathematics categories.
Non Archimedean Utility Theory
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Author : Heinz J. Skala
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Non Archimedean Utility Theory written by Heinz J. Skala and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Social Science categories.
My interest in non-Archimedean utility theory and the problems related to it was aroused by discussions which I have had with Professors Werner Leinfellner and Günter Menges. On the occasion of the Second Inter national Game Theory Workshop, Berkeley, 1970, which was sponsored by the National Science Foundation, I had the opportunity to report about a result on non-standard utilities. Work on this subject continued when I was a research assistant of Professor Günter Menges at the Uni versity of Heidelberg. The present mono graph is essentially a translation of my habilitation thesis which was accepted on February 15, 1973 by the Faculty of Economics and Social Sciences at the Universtity of Heidelberg. On translating my thesis I took up some suggestions made by ProfessorWerner Böge from the Faculty of Mathematics at the Uni versity of Heidelberg. Through lack of time many of his ideas have not been taken into consideration but I hope to do so in a future paper. The first chapter should be considered as a short introduction to pref erence orderings and to the notion of a utility theory proposed by Dana Scott and Patrick Suppes. In the second chapter I discuss in some detail various problems of ordinal utility theory. Except when introducing non-standard models of the reals no use is made of concepts of model theory. This is done in deference to those readers who do not wish to be troubled by formal languages and model theory.
Axiomatic Utility Theory Under Risk
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Author : Ulrich Schmidt
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Axiomatic Utility Theory Under Risk written by Ulrich Schmidt and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The first attempts to develop a utility theory for choice situations under risk were undertaken by Cramer (1728) and Bernoulli (1738). Considering the famous St. Petersburg Paradox! - a lottery with an infinite expected monetary value -Bernoulli (1738, p. 209) observed that most people would not spend a significant amount of money to engage in that gamble. To account for this observation, Bernoulli (1738, pp. 199-201) proposed that the expected monetary value has to be replaced by the expected utility ("moral expectation") as the relevant criterion for decision making under risk. However, Bernoulli's 2 argument and particularly his choice of a logarithmic utility function seem to be rather arbitrary since they are based entirely on intuitively 3 appealing examples. Not until two centuries later, did von Neumann and Morgenstern (1947) prove that if the preferences of the decision maker satisfy cer tain assumptions they can be represented by the expected value of a real-valued utility function defined on the set of consequences. Despite the identical mathematical form of expected utility, the theory of von Neumann and Morgenstern and Bernoulli's approach have, however, IFor comprehensive discussions of this paradox cf. Menger (1934), Samuelson (1960), (1977), Shapley (1977a), Aumann (1977), Jorland (1987), and Zabell (1987). 2Cramer (1728, p. 212), on the other hand, proposed that the utility of an amount of money is given by the square root of this amount.
Decision Probability And Utility
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Author : Peter Gärdenfors
language : en
Publisher: Cambridge University Press
Release Date : 1988-04-29
Decision Probability And Utility written by Peter Gärdenfors and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-04-29 with Business & Economics categories.
Decision theory and the theory of rational choice have recently been the subjects of considerable research by philosophers and economists. However, no adequate anthology exists which can be used to introduce students to the field. This volume is designed to meet that need. The essays included are organized into five parts covering the foundations of decision theory, the conceptualization of probability and utility, pholosophical difficulties with the rules of rationality and with the assessment of probability, and causal decision theory. The editors provide an extensive introduction to the field and introductions to each part.
Recent Developments In The Foundations Of Utility And Risk Theory
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Author : L. Daboni
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Recent Developments In The Foundations Of Utility And Risk Theory written by L. Daboni and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Social Science categories.
The Second International Conference on Foundations of Utility and Risk Theory was held in Venice, June 1984. This volume presents some of the papers delivered at FUR-84. (The First International Conference, FUR-82, was held in Oslo and some of the papers presented on that occasion were published by Reidel in the volume Foundations of Utility and Risk Theory with Applications, edited by Bernt P. Stigum and Fred Wenst~p). The theory of choice under uncertainty involves a vast range of controversial issues in many fields like economics, philosophy, psychology, mathematics and statistics. The idea of discussing these problems in international conferences has been successful: two conferences have been held and others will follow. The climate of the debate has changed in the meantime, partly as a result of these conferences. It is no more only a question of attacking or defending the neo-Bernoullian assumptions, but also of proposing wider generalizations and including new elements in the analysis of the decision process. For instance Amartya Sen - comparing the two current notions of rationality, internal consistency and self-interest pursuit introduces the concept of reasoning and considers the irrationality which may result from the failure of a positive correspondence between reasoning and choice or from a limited capacity of reasoning. Rationality is also considered with respect to the controversial axiom of strong independence. John C. Harsanyi introduces the concept of practical certainty, i. e.
Utility Maximization Choice And Preference
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Author : Fuad Aleskerov
language : en
Publisher: Springer
Release Date : 2013-01-21
Utility Maximization Choice And Preference written by Fuad Aleskerov and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-21 with Business & Economics categories.
The utility maximization paradigm forms the basis of many economic, psychological, cognitive and behavioral models. However, numerous examples have revealed the deficiencies of the concept. This book helps to overcome those deficiencies by taking into account insensitivity of measurement threshold and context of choice. The second edition has been updated to include the most recent developments and a new chapter on classic and new results for infinite sets.