Decision making with unreliable probabilities

Research output: Contribution to journalArticle


title = "Decision making with unreliable probabilities",
abstract = "This paper presents a decision theory which allows subjects to account for the uncertainties of their probability estimates. This is accomplished by modelling beliefs about states of nature by means of a class of probability measures. In order to represent uncertainties of those beliefs a measure of epistemic reliability is introduced. The suggested decision theory is evaluated in the light of empirical evidence on ambiguity and uncertainty in decision making. The theory is also compared to Tversky & Kahneman's prospect theory.",
author = "Peter G{\"a}rdenfors and Nils-Eric Sahlin",
year = "1983",
doi = "10.1111/j.2044-8317.1983.tb01130.x",
language = "English",
volume = "36",
pages = "240--251",
journal = "British Journal of Mathematical and Statistical Psychology",
issn = "0007-1102",
publisher = "The British Psychological Society",
number = "2",