dc.contributor.author | HOULDING, BRETT | |
dc.date.accessioned | 2010-11-12T12:47:50Z | |
dc.date.available | 2010-11-12T12:47:50Z | |
dc.date.issued | 2011 | |
dc.date.submitted | 2011 | en |
dc.identifier.citation | B. Houlding and F.P.A. Coolen, Adaptive utility and trial aversion, Journal of Statistical Planning and Inference, 141, 2, 2011, 734-747 | en |
dc.identifier.other | Y | |
dc.description | PUBLISHED | en |
dc.description.abstract | Decision 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.extent | 734-747 | en |
dc.language.iso | en | en |
dc.publisher | Elsevier | en |
dc.relation.ispartofseries | Journal of Statistical Planning and Inference; | |
dc.relation.ispartofseries | 141; | |
dc.relation.ispartofseries | 2; | |
dc.rights | Y | en |
dc.subject | Statistics and probability | en |
dc.subject | Bayesian inference | en |
dc.title | Adaptive utility and trial aversion | en |
dc.type | Journal Article | en |
dc.type.supercollection | scholarly_publications | en |
dc.type.supercollection | refereed_publications | en |
dc.identifier.peoplefinderurl | http://people.tcd.ie/houldinb | |
dc.identifier.rssinternalid | 67994 | |
dc.identifier.rssuri | http://dx.doi.org/10.1016/j.jspi.2010.07.023 | en |
dc.identifier.uri | http://hdl.handle.net/2262/41149 | |