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Expected utility theory under non-classical uncertainty

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Abstract

In this article, Savage’s theory of decision-making under uncertainty is extended from a classical environment into a non-classical one. The Boolean lattice of events is replaced by an arbitrary ortho-complemented poset. We formulate the corresponding axioms and provide representation theorems for qualitative measures and expected utility. Then, we discuss the issue of beliefs updating and investigate a transition probability model. An application to a simple game context is proposed.

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Authors and Affiliations

  1. Central Economic Mathematical Institute, Russian Academy of Sciences, 47 Nakhimovski Prospect, 117418, Moscow, Russia

    V. I. Danilov

  2. PSE, Paris-Jourdan Sciences Economiques, Paris School of Economics, 48 bd Jourdan, 75014, Paris, France

    A. Lambert-Mogiliansky

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  1. V. I. Danilov
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  2. A. Lambert-Mogiliansky
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Correspondence to A. Lambert-Mogiliansky.

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Danilov, V.I., Lambert-Mogiliansky, A. Expected utility theory under non-classical uncertainty. Theory Decis 68, 25–47 (2010). https://doi.org/10.1007/s11238-009-9142-6

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  • DOI: https://doi.org/10.1007/s11238-009-9142-6

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