publication . Preprint . 2018

A quantitative approach to choose among multiple mutually exclusive decisions: comparative expected utility theory

Zhu, Pengyu;
Open Access English
  • Published: 08 Jan 2018
Abstract
Mutually exclusive decisions have been studied for decades. Many well-known decision theories have been defined to help people either to make rational decisions or to interpret people's behaviors, such as expected utility theory, regret theory, prospect theory, and so on. The paper argues that none of these decision theories are designed to provide practical, normative and quantitative approaches for multiple mutually exclusive decisions. Different decision-makers should naturally make different choices for the same decision question, as they have different understandings and feelings on the same possible outcomes.The author tries to capture the different unders...
Subjects
free text keywords: Quantitative Finance - Economics
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