Abstract
We present some interesting features of de Finetti's decision theory; then we extended the theory. The extended theory has a normative character and is of the expected utility kind, but it is also very adaptable. By comparing it with some leading theories, we find that our theory is compatible with consideration of the whole probability distribution — it can even accommodate Allais' paradox -, while it is not generally compatible with probability weighting. We are mainly interested in the normative point of view.
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Rossi, G.A. Rational behaviour: A comparison between the theory stemming from de Finetti's work and some other leading theories. Theor Decis 36, 257–275 (1994). https://doi.org/10.1007/BF01079931
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DOI: https://doi.org/10.1007/BF01079931