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Rational Choice Using Imprecise Probabilities and Utilities (Elements in Decision Theory and Philosophy) - Softcover

Book 2 of 7: Elements in Decision Theory and Philosophy

Weirich, Paul

 
9781108713504: Rational Choice Using Imprecise Probabilities and Utilities (Elements in Decision Theory and Philosophy)
Softcover
ISBN 10: 1108713505 ISBN 13: 9781108713504
Publisher: Cambridge University Press, 2021

Synopsis

An agent often does not have precise probabilities or utilities to guide resolution of a decision problem. I advance a principle of rationality for making decisions in such cases. To begin, I represent the doxastic and conative state of an agent with a set of pairs of a probability assignment and a utility assignment. Then I support a decision principle that allows any act that maximizes expected utility according to some pair of assignments in the set. Assuming that computation of an option's expected utility uses comprehensive possible outcomes that include the option's risk, no consideration supports a stricter requirement.

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Publisher
Cambridge University Press
Publication date
2021
Language
English
ISBN 10 
1108713505
ISBN 13 
9781108713504
Binding
Paperback
Number of pages
82