Where Luce and Krantz Do Really Generalize Savage's Decision Model

Spohn, Wolfgang

Where Luce and Krantz Do Really Generalize Savage's Decision Model

Files

spohn_whereluce.pdf(1.06 MB)

Date

1977

Publication type

Journal article

Published in

Erkenntnis ; 11 (1977), 1. - pp. 113-134. - ISSN 0165-0106

Abstract

The aim of the paper is a comparison of the decision models of Savage, Fishburn, Jeffrey and Luce & Krantz. Savage's model turns to represent subjective values and beliefs in a restricted way by implicitly assuming special probabilities for consequences and valuewise independence between world states and consequences. Fishburn's model overcomes both restrictions. The models of Jeffrey and Luce & Krantz are argued to be inadequate because they assume acts to be probabilistically assessed. A reinterpretation of the model of Luce & Krantz and a determination of the (intrinsic) utility function underlying their expected utility function yields the unexpected result that it generalises Savage's model with respect to utilities and not, as intended, with respect to probabilities.

Subject (DDC)

100 Philosophy

Cite This

ISO 690

SPOHN, Wolfgang, 1977. Where Luce and Krantz Do Really Generalize Savage's Decision Model. In: Erkenntnis. 11(1), pp. 113-134. ISSN 0165-0106. Available under: doi: 10.1007/BF00169847

BibTex

@article{Spohn1977Where-13675,
  year={1977},
  doi={10.1007/BF00169847},
  title={Where Luce and Krantz Do Really Generalize Savage's Decision Model},
  number={1},
  volume={11},
  issn={0165-0106},
  journal={Erkenntnis},
  pages={113--134},
  author={Spohn, Wolfgang}
}

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