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Savage’s Subjective Expected Utility Model

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The New Palgrave Dictionary of Economics

Abstract

This article reviews Savage’s subjective expected utility theory and takes a critical view of the corresponding concept of subjective probabilities as a representation of decision makers’ beliefs.

This chapter was originally published in The New Palgrave Dictionary of Economics, 2nd edition, 2008. Edited by Steven N. Durlauf and Lawrence E. Blume

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  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    Edi Karni

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  1. Edi Karni
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    Karni, E. (2008). Savage’s Subjective Expected Utility Model. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_2467-1

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    • DOI: https://doi.org/10.1057/978-1-349-95121-5_2467-1

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    • Publisher Name: Palgrave Macmillan, London

    • Online ISBN: 978-1-349-95121-5

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