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Separate aggregation of beliefs and values under ambiguity
Abstract
Maximin expected utility model for individual decision making under ambiguity prescribes that the individual posits independently a utility function and a set of probability distributions over events to represent the values and belief, respectively. It assumes that individual evaluates each act on the basis of its minimum expected utility over this class of distributions. In this paper, we attempt to generalize the model to social decision...
Paper Details
Title
Separate aggregation of beliefs and values under ambiguity
Published Date
Dec 22, 2015
Journal
Volume
63
Issue
2
Pages
503 - 519
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