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Subjective expected utility with state-dependent but action/observation-independent preferences

Jacques Dreze

No 2015044, CORE Discussion Papers from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: Under state-dependent preferences, probabilities and units of scale of statedependent utilities are not separately identified, in standard models: only their products matter to decisions. Separate identification has been studied under implicit actions (Drèze 1987) or under explicit actions and observations (Karni 2011). This paper complements both approaches and relates them.

Keywords: expected utility; state-dependent preferences; subjective probability (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mic and nep-upt
Date: 2015-10-20
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Related works:
Journal Article: Subjective Expected Utility with State-Dependent but Action/Observation-Independent Preferences (2018) Downloads
Working Paper: Subjective expected utility with state-dependent but action/observation-independent preferences (2018) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:2015044

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