Abstract

The Anscombe and Aumann double relation approach for defining subjective probabilities and utilities in terms of a person's preferences is generalized for the case in which the set of states of the world is unrestricted (finite or not). A monotone continuity condition enables us to prove $\sigma$-additivity; the necessity of this condition is also proved if our other assumptions hold. Although the single relation approach used by Fishburn appears to be more elegant, the present approach has the advantage of showing how the subjective probabilities arise.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.