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Rational Choice Using Imprecise Probabilities and Utilities

By: (Author) Paul Weirich

Manufactured on Demand
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Ksh 3,250.00

Format: Paperback / Softback

ISBN-10: 1108713505

ISBN-13: 9781108713504

Series: Elements in Decision Theory and Philosophy

Publisher: Cambridge University Press

Imprint: Cambridge University Press

Country of Manufacture: GB

Country of Publication: GB

Publication Date: Feb 25th, 2021

Print length: 75 Pages

Weight: 136 grams

Dimensions (height x width x thickness): 15.20 x 22.90 x 1.20 cms

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An agent often does not have precise probabilities or utilities to guide resolution of a decision problem. In this Element I advance a principle of rationality for making decisions in such cases.
An agent often does not have precise probabilities or utilities to guide resolution of a decision problem. I advance a principle of rationality for making decisions in such cases. To begin, I represent the doxastic and conative state of an agent with a set of pairs of a probability assignment and a utility assignment. Then I support a decision principle that allows any act that maximizes expected utility according to some pair of assignments in the set. Assuming that computation of an option''s expected utility uses comprehensive possible outcomes that include the option''s risk, no consideration supports a stricter requirement.

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