A Subjectivist Approach to Consecutive Conflict

John G Wilson

Journal of Risk and Uncertainty, 1992, vol. 5, issue 1, 99 pages

Abstract: An easily applied approach is developed to provide one participant in a sequence of conflicts with an optimal strategy. A goal of this article is to demonstrate that it is mathematically feasible to incorporate a decisionmaker's subjective distributions over the effects his actions will have on the outcomes of future conflicts. Unlike many other approaches the model of this article does not restrict the beliefs that the participant is allowed to express. The participant, not the decision theorist, decides on what is relevant. Model assumptions required for updating rules, such as Bayesian updating, are not required unless they really are appropriate for the situation. Copyright 1992 by Kluwer Academic Publishers

Date: 1992
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