States and Eventualities: How to Understand Savage Without Anyone Being Hanged

Itzhak Gilboa, Stefania Minardi, Larry Samuelson and David Schmeidler

No 1267, HEC Research Papers Series from HEC Paris

Abstract: We discuss the notion of a state of the world in axiomatic decision theory, and argue that it should be viewed as an "eventuality" that is implicitly assumed to be independent of the process by which preferences are observed. The distinction between states, which are assumed to resolve all uncertainty, and eventualities suggests certain limitations on the axiomatic approach for defining and measuring mental concepts (such as belief ) by observed choices

Keywords: axiomatic; decision; theory (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2018-05-15
New Economics Papers: this item is included in nep-mic and nep-upt
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Citations: View citations in EconPapers (1)

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Working Paper: States and Eventualities: How to Understand Savage Without Anyone Being Hanged (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:ebg:heccah:1267

DOI: 10.2139/ssrn.3178741

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