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• W4311393648 abstract "This paper studies decision-making in the face of two stochastically independent sources of uncertainty. It characterizes axiomatically a Subjective Expected Utility representation of preferences where subjective beliefs consist of a product probability measure. The two key axioms in this characterization both involve some behavioral notions of stochastic independence. Our result can be understood as a purely subjective version of the Anscombe and Aumann (Ann Math Stat 34:199–205, 1963) theorem that avoids the controversial use of exogenous probabilities by appealing to stochastic independence. We also obtain an extension to Choquet Expected Utility representations." @default.
• W4311393648 created "2022-12-26" @default.
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• W4311393648 date "2022-12-14" @default.
• W4311393648 modified "2023-10-01" @default.
• W4311393648 title "Subjective expected utility through stochastic independence" @default.
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• W4311393648 doi "https://doi.org/10.1007/s00199-022-01476-8" @default.
• W4311393648 hasPublicationYear "2022" @default.
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