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- W2015109067 abstract "Conventional Bayesian theory of choice under uncertainty, subjective expected utility theory, fails to satisfy the properties of admissibility and existence of well-defined conditional probabilities; weakly dominated acts may be chosen, and the usual definition of conditional probabilities applies only to nonnull events. This paper develops a non-Archimedean variant of subjective expected utility where decisionmakers have lexicographic beliefs. This generalization can be made to satisfy admissibility and yield well-defined conditional probabilities and at the same time allow for null events. Copyright 1991 by The Econometric Society." @default.
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- W2015109067 date "1991-01-01" @default.
- W2015109067 modified "2023-10-17" @default.
- W2015109067 title "Lexicographic Probabilities and Choice Under Uncertainty" @default.
- W2015109067 doi "https://doi.org/10.2307/2938240" @default.
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