2017/01/12 by Grant Molnar, Molnar, Grant
Computer Science · Mathematics · #Advanced Topology and Set Theory #Artificial Intelligence (cs.AI) #Computability, Logic, AI Algorithms #FOS: Computer and information sciences #Mathematical and Theoretical Analysis
paper · pdf · doi:10.48550/arxiv.1701.03500
openalex publication_date 2017/01/12 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
Since Leonard Savage's epoch-making "Foundations of Statistics", Subjective Expected Utility Theory has been the presumptive model for decision-making. Savage provided an act-based axiomatization of standard expected utility theory. In this article, we provide a Savage-like axiomatization of nonstandard expected utility theory. It corresponds to a weakening of Savage's 6th axiom.