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Rational Choice Using Imprecise Probabilities and Utilities

Rational Choice Using Imprecise Probabilities and Utilities

Rational Choice Using Imprecise Probabilities and Utilities

Paul Weirich, University of Missouri, Columbia
February 2021
Available
Paperback
9781108713504
£17.00
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    An agent often does not have precise probabilities or utilities to guide resolution of a decision problem. I advance a principle of rationality for making decisions in such cases. To begin, I represent the doxastic and conative state of an agent with a set of pairs of a probability assignment and a utility assignment. Then I support a decision principle that allows any act that maximizes expected utility according to some pair of assignments in the set. Assuming that computation of an option's expected utility uses comprehensive possible outcomes that include the option's risk, no consideration supports a stricter requirement.

    Product details

    February 2021
    Paperback
    9781108713504
    75 pages
    150 × 230 × 5 mm
    0.14kg
    Available

    Table of Contents

    • 1. Introduction
    • 2. Imprecision
    • 3. Rational imprecision
    • 4. Probabilism
    • 5. The expected-utility principle
    • 6. Norms for imprecise attitudes
    • 7. The permissive principle of choice
    • 8. Sequences of choices
    • 9. Choices in games of strategy
    • 10. Conclusion.
      Author
    • Paul Weirich , University of Missouri, Columbia