Published 1994
| public
Book Section - Chapter
Ambiguity-aversion and Non-additive Beliefs in Non-Cooperative Games: Experimental Evidence
- Creators
- Camerer, Colin F.
- Karjalainen, Risto
- Others:
- Munier, Bertrand
- Machina, Mark J.
Abstract
In subjective expected utility (SEU), people choose among acts which have different consequences, depending on which of several uncertain states occurs. Choices between acts therefore reveal implicit beliefs about the likelihood of the states, or "subjective probabilities" (Ramsey, 1931; Savage, 1954). In the SEU framework, the (implicit) likelihoods of different states certainly affects choices, but the ambiguity surrounding that likelihood--the confidence a person has in her judgment of likelihood, or the amount of information on which it is based--should not affect her choices.
Additional Information
© 1994 Kluwer Academic Publishers.Additional details
- Eprint ID
- 22440
- Resolver ID
- CaltechAUTHORS:20110223-082407361
- Created
-
2011-03-08Created from EPrint's datestamp field
- Updated
-
2019-10-03Created from EPrint's last_modified field
- Series Name
- Theory and Decision Library, Series B, Mathematical and Statistical Methods
- Series Volume or Issue Number
- 29