2019/07/22 by Sven Neth
Computer Science · #cs.GT #cs.AI
paper · pdf · doi:10.4204/eptcs.297.22
published as EPTCS 297, 2019, pp. 354-364 · In Proceedings TARK 2019, arXiv:1907.08335
arxiv created 2019/07/22 · arxiv updated 2019/07/23
Ramsey (1926) sketches a proposal for measuring the subjective probabilities of an agent by their observable preferences, assuming that the agent is an expected utility maximizer. I show how to extend the spirit of Ramsey's method to a strictly wider class of agents: risk-weighted expected utility maximizers (Buchak 2013). In particular, I show how we can measure the risk attitudes of an agent by their observable preferences, assuming that the agent is a risk-weighted expected utility maximizer. Further, we can leverage this method to measure the subjective probabilities of a risk-weighted expected utility maximizer.