Mean‐Deviation Analysis in the Theory of Choice

@article{Grechuk2012MeanDeviationAI,
  title={Mean‐Deviation Analysis in the Theory of Choice},
  author={Bogdan Grechuk and Anton Molyboha and Michael Zabarankin},
  journal={Risk Analysis},
  year={2012},
  volume={32}
}
Mean‐deviation analysis, along with the existing theories of coherent risk measures and dual utility, is examined in the context of the theory of choice under uncertainty, which studies rational preference relations for random outcomes based on different sets of axioms such as transitivity, monotonicity, continuity, etc. An axiomatic foundation of the theory of coherent risk measures is obtained as a relaxation of the axioms of the dual utility theory, and a further relaxation of the axioms are… 

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