期刊
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
卷 276, 期 3, 页码 1034-1043出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ejor.2019.01.019
关键词
Decision support systems; Behavioral model; The St. Petersburg paradox; The Allais paradox; The Ellsberg paradox
资金
- JSPS KAKENHI [15K03599]
- Grants-in-Aid for Scientific Research [15K03599] Funding Source: KAKEN
We present a decision theory which models and axiomatizes a decision-making procedure. This procedure involves two steps: in the first step, for each action, some specific event which can bring about a relatively high payoff with a relatively high probability or a relatively low payoff with a relatively high probability is selected as the positive or negative focus, respectively; in the second step, based on the foci of all actions, a decision maker chooses a most-preferred action. Our model handles decision making with risk or under ambiguity or under ignorance within a unified framework. Our model resolves several anomalies, including the St. Petersburg, Allais, and Ellsberg paradoxes, and violations of stochastic dominance. (C) 2019 Elsevier B.V. All rights reserved.
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