Browsing ECO Working Papers by Subject "Bayesianism"

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Browsing ECO Working Papers by Subject "Bayesianism"

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    Title: Decision Makers Facing Uncertainty: Theory versus Evidence  Author(s): GIORDANI, Paolo; SCHLAG, Karl H.; ZWART, Sanne Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: We consider three competing normative theories of how to make choices when facing uncertainty: subjective expected utility, maximin utility and minimax regret. In simple decision problems, we compare how decision makers ...