Expected utility and constrained maximization: Problems of compatibility
β Scribed by Hans Lottenbach
- Publisher
- Springer
- Year
- 1994
- Tongue
- English
- Weight
- 640 KB
- Volume
- 41
- Category
- Article
- ISSN
- 1876-2514
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## Abstract Gilboa and Schmeidler (1989) develop a set of axioms for decision making under uncertainty. The axioms imply a utility function and a set of distributions such that the preference ordering is obtained by calculating expected utility with respect to each distribution in the set, and then