A common precept of decision analysis under uncertainty is the choice of an action which maximizes the expected value of a utility function. Savageâ€™s (1954) axioms for subjective expected utilityâ€¦ (More)

Treatment of freshly isolated acute promyelocytic leukemia (APL) cells and the myelogenous leukemia cell lines, NB4, HL-60, and U937, with all-trans retinoic acid (ATRA) results in a remarkableâ€¦ (More)

We consider a team of agents with limited problem-solving ability facing a disjunctive task over a large solution space. We provide sufficient conditions for the following four statements. First, twoâ€¦ (More)

This paper describes a parametric family of utility functions for decision analysis. The parameterization is obtained by embedding the HARA class in a four-parameter representation for the riskâ€¦ (More)

Agent-based models of market dynamics must strike a compromise between the structural assumptions that represent the trading mechanism and the behavioral assumptions that describe the rules by whichâ€¦ (More)

Given their reference point, most people tend to be risk averse over gains and risk seeking over losses. Therefore, they exhibit a dual risk attitude which is reference dependent. This paperâ€¦ (More)

The decision-theoretic literature has developed very few techniques to bound the expected utility of a random variable when only simple statistics like its median or mode or mean are known. Oneâ€¦ (More)

Uniform-price auctions of a divisible good in fixed supply admit underpricing equilibria, where bidders submit high inframarginal bids to prevent competition on prices. The seller can obstruct thisâ€¦ (More)

The measure approach represents a preference relation over functions by the measure of Å½ . their epigraphs or hypographs . This paper proves a measure representation theorem for a class of increasingâ€¦ (More)