We consider decisions on generalized Anscombe-Aumann acts, mapping states of the world to belief functions over a set of consequences. Preference rela- tions on these acts are given by a decision maker under different scenarios (conditioning events). Then, we provide a system of axioms which are neces- sary and sufficient for the representability of these “conditional preferences” through a conditional functional CEUP,u, parametrized by a unique full con- ditional probability P on the algebra of events and a cardinal utility function u on consequences. The model is able to manage also “unexpected” (i.e., “null”) conditioning events. We finally provide an elicitation procedure that reduces to a Quadratically Constrained Linear Problem (QCLP)
Decisions on generalized Anscombe-Aumann acts under possibly “unexpected” scenarios
Giulianella COLETTI;Davide PETTURITI;
2018
Abstract
We consider decisions on generalized Anscombe-Aumann acts, mapping states of the world to belief functions over a set of consequences. Preference rela- tions on these acts are given by a decision maker under different scenarios (conditioning events). Then, we provide a system of axioms which are neces- sary and sufficient for the representability of these “conditional preferences” through a conditional functional CEUP,u, parametrized by a unique full con- ditional probability P on the algebra of events and a cardinal utility function u on consequences. The model is able to manage also “unexpected” (i.e., “null”) conditioning events. We finally provide an elicitation procedure that reduces to a Quadratically Constrained Linear Problem (QCLP)I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
