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Recent Developments in the Foundations of Utility and Risk Theory

  • Book
  • © 1986

Overview

Editors:
  1. L. Daboni

    1. Institute of Finance Mathematics, University of Trieste, Italy

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  2. A. Montesano

    1. Faculty of Political Science, University of Milan, Italy

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  3. M. Lines

    1. Faculty of Business and Economics, University of Venice, Italy

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Part of the book series: Theory and Decision Library (TDLU, volume 47)

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Table of contents (24 chapters)

  1. Front Matter

    Pages i-x
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  2. Rationality and Uncertainty in Decision Theory

    1. Front Matter

      Pages 1-1
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    2. Rationality and Uncertainty

      • Amartya Sen
      Pages 3-25

    3. Practical Certainty and the Acceptance of Empirical Statements

      • John C. Harsanyi
      Pages 27-41

    4. A New Basis for Decision Theory

      • Donald Davidson
      Pages 43-56

    5. Some Questions about Bayesian Decision Theory

      • Max Black
      Pages 57-66

    6. Regret, Recrimination and Rationality1

      • Robert Sugden
      Pages 67-80

  3. Utility and Uncertainty

    1. Front Matter

      Pages 81-81
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    2. Determination of Cardinal Utility According to an Intrinsic Invariant Model

      • Maurice Allais
      Pages 83-120

    3. The Present State of Utility Theory

      • Georges Bernard
      Pages 121-138

    4. A Characterization of Decision Matrices that Yield Instrumental Expected Utility

      • Allan Gibbard
      Pages 139-148

    5. Associative Means and Utility Theory

      • Luciano Daboni
      Pages 149-151

    6. On Utility Functions in a Financial Context

      • Guido A. Rossi
      Pages 153-160

    7. The Generalized Means Model (GMM) For Non-Deterministic Decision Making: A Unified Treatment for the two Contending Theories

      • Hector A. Munera
      Pages 161-184

    8. Individual Cardinal Utility, Interpersonal Comparisons, and Social Choice

      • Antonio Camacho
      Pages 185-200

    9. Surviving Implications of Expected Utility Theory

      • Ole Hagen
      Pages 201-214

    10. Consistency and Expected Utility Theory

      • Robin Pope
      Pages 215-229

    11. Aggregate Revealed Preferences and Random Utility Theory

      • G. Leonardi, Reggiani Arcangeli
      Pages 231-248

    12. Concave Additively Decomposable Representing Functions and Risk Aversion

      • Peter Wakker
      Pages 249-262

  4. Information and Utility

    1. Front Matter

      Pages 263-263
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Keywords

About this book

The Second International Conference on Foundations of Utility and Risk Theory was held in Venice, June 1984. This volume presents some of the papers delivered at FUR-84. (The First International Conference, FUR-82, was held in Oslo and some of the papers presented on that occasion were published by Reidel in the volume Foundations of Utility and Risk Theory with Applications, edited by Bernt P. Stigum and Fred Wenst~p). The theory of choice under uncertainty involves a vast range of controversial issues in many fields like economics, philosophy, psychology, mathematics and statistics. The idea of discussing these problems in international conferences has been successful: two conferences have been held and others will follow. The climate of the debate has changed in the meantime, partly as a result of these conferences. It is no more only a question of attacking or defending the neo-Bernoullian assumptions, but also of proposing wider generalizations and including new elements in the analysis of the decision process. For instance Amartya Sen - comparing the two current notions of rationality, internal consistency and self-interest pursuit introduces the concept of reasoning and considers the irrationality which may result from the failure of a positive correspondence between reasoning and choice or from a limited capacity of reasoning. Rationality is also considered with respect to the controversial axiom of strong independence. John C. Harsanyi introduces the concept of practical certainty, i. e.

Editors and Affiliations

  • Institute of Finance Mathematics, University of Trieste, Italy

    L. Daboni

  • Faculty of Political Science, University of Milan, Italy

    A. Montesano

  • Faculty of Business and Economics, University of Venice, Italy

    M. Lines

Bibliographic Information

  • Book Title: Recent Developments in the Foundations of Utility and Risk Theory

  • Editors: L. Daboni, A. Montesano, M. Lines

  • Series Title: Theory and Decision Library

  • DOI: https://doi.org/10.1007/978-94-009-4616-3

  • Publisher: Springer Dordrecht

  • eBook Packages: Springer Book Archive

  • Copyright Information: D. Reidel Publishing Company, Dordrecht, Holland 1986

  • Hardcover ISBN: 978-90-277-2201-0Published: 31 March 1986

  • Softcover ISBN: 978-94-010-8551-9Published: 26 September 2011

  • eBook ISBN: 978-94-009-4616-3Published: 06 December 2012

  • Edition Number: 1

  • Number of Pages: X, 406

  • Topics: Methodology of the Social Sciences

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