Construct · 1 fields · 1 citations

subjective expected utility: a standalone construct

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subjectiveexpected utility1 CONSTRUCTSubjective expectedANSCOMBE · DECISION SCIENCE

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Decision science

a theory where choices maximize expected utility using personal probabilities inferred from preferences.

In decision science, subjective expected utility refers to a theory where choices maximize expected utility using personal probabilities inferred from preferences. This meaning comes from Anscombe (1963) in The Annals of Mathematical Statistics.[1]

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Nearby constructs

utility3 fields · 3 citationsjingle · one word, three constructs

References

  1. Anscombe, F. J., & Aumann, R. J. (1963). A Definition of Subjective Probability. The Annals of Mathematical Statistics, 34(1), 199-205. https://doi.org/10.1214/aoms/1177704255

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