Generalized Qualitative Probability: Savage revisited

Daniel J. Lehmann

64 citations0/0 files storedarXiv (Cornell University)

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Decision-Making and Behavioral Economics Logic, Reasoning, and Knowledge Bayesian Modeling and Causal Inference

Abstract

Preferences among acts are analyzed in the style of L. Savage, but as partially ordered. The rationality postulates considered are weaker than Savage's on three counts. The Sure Thing Principle is derived in this setting. The postulates are shown to lead to a characterization of generalized qualitative probability that includes and blends both traditional qualitative probability and the ranked structures used in logical approaches.

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1945Theory of Games and Economic Behavior 1962Utility Theory without the Completeness Axiom 1991Lexicographic Probabilities and Choice Under Uncertainty

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