Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/72001
Authors: 
Karni, Edi
Year of Publication: 
2005
Series/Report no.: 
Working Papers, The Johns Hopkins University, Department of Economics 523
Abstract: 
This paper develops an axiomatic theory of decision making under uncertainty that dispenses with the state space. The results are subjective expected utility models with unique, action-dependent, subjective probabilities, and a utility function defined over wealth-effect pairs that is unique up to positive linear transformation.
Subjects: 
Subjective expected utility
states of the world
JEL: 
D81
Document Type: 
Working Paper

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