States and Eventualities: How to Understand Savage Without Anyone Being Hanged

24 Pages Posted: 15 May 2018

See all articles by Itzhak Gilboa

Itzhak Gilboa

Tel Aviv University - Eitan Berglas School of Economics; HEC Paris - Economics & Decision Sciences

Stefania Minardi

HEC Paris - Economics & Decision Sciences

Larry Samuelson

Yale University - Department of Economics; Yale University - Cowles Foundation

David Schmeidler

Tel Aviv University

Date Written: January 7, 2018

Abstract

We discuss the notion of a state of the world in axiomatic decision theory, and argue that it should be viewed as an "eventuality" that is implicitly assumed to be independent of the process by which prefer- ences are observed. The distinction between states, which are assumed to resolve all uncertainty, and eventualities suggests certain limitations on the axiomatic approach for defining and measuring mental concepts (such as belief ) by observed choices

Suggested Citation

Gilboa, Itzhak and Minardi, Stefania and Samuelson, Larry and Schmeidler, David, States and Eventualities: How to Understand Savage Without Anyone Being Hanged (January 7, 2018). HEC Paris Research Paper No. ECO/SCD-2018-1267. Available at SSRN: https://ssrn.com/abstract=3178741 or http://dx.doi.org/10.2139/ssrn.3178741

Itzhak Gilboa (Contact Author)

Tel Aviv University - Eitan Berglas School of Economics ( email )

P.O. Box 39040
Ramat Aviv, Tel Aviv, 69978
Israel
972-3-640-6423 (Phone)
972-3-640-9908 (Fax)

HEC Paris - Economics & Decision Sciences

Paris
France

Stefania Minardi

HEC Paris - Economics & Decision Sciences ( email )

Paris
France

Larry Samuelson

Yale University - Department of Economics ( email )

28 Hillhouse Ave
New Haven, CT 06520-8268
United States

Yale University - Cowles Foundation

Box 208281
New Haven, CT 06520-8281
United States

David Schmeidler

Tel Aviv University ( email )

P.O. Box 39040
Ramat Aviv, Tel Aviv, 69978
Israel
+972-3-640-9643 (Phone)
+972-3-640-9357 (Fax)

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