Date of Original Version

2007

Type

Article

Rights Management

All Rights Reserved

Abstract or Description

We discuss several features of coherent choice functions – where the admissible options in a decision problem are exactly those which maximize expected utility for some probability/utility pair in fixed set S of probability/utility pairs. In this paper we consider, primarily, normal form
decision problems under uncertainty – where only the probability component of S is indeterminate. Coherent choice distinguishes between each pair of sets of
probabilities. We axiomatize the theory of choice functions and show these axioms are necessary for coherence. The axioms are sufficient for coherence
using a set of probability/almost-state-independent utility pairs. We give sufficient conditions when a choice function satisfying our axioms is represented by a set of probability/state-independent utility pairs with a common utility.

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Philosophy Commons

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