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dc.contributor.authorHOULDING, BRETT
dc.date.accessioned2010-11-12T12:47:50Z
dc.date.available2010-11-12T12:47:50Z
dc.date.issued2011
dc.date.submitted2011en
dc.identifier.citationB. Houlding and F.P.A. Coolen, Adaptive utility and trial aversion, Journal of Statistical Planning and Inference, 141, 2, 2011, 734-747en
dc.identifier.otherY
dc.descriptionPUBLISHEDen
dc.description.abstractDecision making with adaptive utility provides a generalisation to classical Bayesian decision theory, allowing the creation of a normative theory for decision selection when preferences are initially uncertain. In this paper we address some of the foundational issues of adaptive utility as seen from the perspective of a Bayesian statistician. The implications that such a generalisation has upon the traditional utility concepts of value of information and risk aversion are also explored, with a new concept of trial aversion introduced that is similar to risk aversion, but which concerns a decision maker's aversion to selecting decisions with high uncertainty over resulting utility.en
dc.format.extent734-747en
dc.language.isoenen
dc.publisherElsevieren
dc.relation.ispartofseriesJournal of Statistical Planning and Inference;
dc.relation.ispartofseries141;
dc.relation.ispartofseries2;
dc.rightsYen
dc.subjectStatistics and probabilityen
dc.subjectBayesian inferenceen
dc.titleAdaptive utility and trial aversionen
dc.typeJournal Articleen
dc.type.supercollectionscholarly_publicationsen
dc.type.supercollectionrefereed_publicationsen
dc.identifier.peoplefinderurlhttp://people.tcd.ie/houldinb
dc.identifier.rssinternalid67994
dc.identifier.rssurihttp://dx.doi.org/10.1016/j.jspi.2010.07.023en
dc.identifier.urihttp://hdl.handle.net/2262/41149


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