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23 relations: Adrian Smith (statistician), Allais paradox, Bayesian probability, Bruno de Finetti, Charles Sanders Peirce, Convex combination, Decision theory, Donald Davidson (philosopher), Ellsberg paradox, Expected utility hypothesis, Expected value, Frank P. Ramsey, John von Neumann, Joseph Jastrow, Leonard Jimmie Savage, Martin Shubik, Oskar Morgenstern, Patrick Suppes, Probability, Risk, Sidney Siegel, Stanford University Press, Utility.
Adrian Smith (statistician)
Sir Adrian Frederick Melhuish Smith, FRS (born 1946) is a distinguished British statistician and was Principal of Queen Mary, University of London from 1998 to 2008.
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Allais paradox
The Allais paradox is a choice problem designed by to show an inconsistency of actual observed choices with the predictions of expected utility theory.
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Bayesian probability
Bayesian probability is an interpretation of the concept of probability, in which, instead of frequency or propensity of some phenomenon, probability is interpreted as reasonable expectation representing a state of knowledge or as quantification of a personal belief.
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Bruno de Finetti
Bruno de Finetti (13 June 1906 – 20 July 1985) was an Italian probabilist statistician and actuary, noted for the "operational subjective" conception of probability.
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Charles Sanders Peirce
Charles Sanders Peirce ("purse"; 10 September 1839 – 19 April 1914) was an American philosopher, logician, mathematician, and scientist who is sometimes known as "the father of pragmatism".
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Convex combination
In convex geometry, a convex combination is a linear combination of points (which can be vectors, scalars, or more generally points in an affine space) where all coefficients are non-negative and sum to 1.
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Decision theory
Decision theory (or the theory of choice) is the study of the reasoning underlying an agent's choices.
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Donald Davidson (philosopher)
Donald Herbert Davidson (March 6, 1917 – August 30, 2003) was an American philosopher.
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Ellsberg paradox
The Ellsberg paradox is a paradox in decision theory in which people's choices violate the postulates of subjective expected utility.
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Expected utility hypothesis
In economics, game theory, and decision theory the expected utility hypothesis, concerning people's preferences with regard to choices that have uncertain outcomes (gambles), states that if specific axioms are satisfied, the subjective value associated with an individual's gamble is the statistical expectation of that individual's valuations of the outcomes of that gamble.
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Expected value
In probability theory, the expected value of a random variable, intuitively, is the long-run average value of repetitions of the experiment it represents.
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Frank P. Ramsey
Frank Plumpton Ramsey (22 February 1903 – 19 January 1930) was a British philosopher, mathematician and economist who made fundamental contributions to abstract algebra before his death at the age of 26.
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John von Neumann
John von Neumann (Neumann János Lajos,; December 28, 1903 – February 8, 1957) was a Hungarian-American mathematician, physicist, computer scientist, and polymath.
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Joseph Jastrow
Joseph Jastrow (January 30, 1863 – January 8, 1944) was a Polish-born American psychologist, noted for inventions in experimental psychology, design of experiments, and psychophysics.
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Leonard Jimmie Savage
Leonard Jimmie Savage (born Leonard Ogashevitz; 20 November 1917 – 1 November 1971) was an American mathematician and statistician.
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Martin Shubik
Martin Shubik (born March 24, 1926) is an American economist, who is Professor Emeritus of Mathematical Institutional Economics at Yale University.
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Oskar Morgenstern
Oskar Morgenstern (January 24, 1902 – July 26, 1977) was a German-born economist.
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Patrick Suppes
Patrick Colonel Suppes (March 17, 1922 – November 17, 2014) was an American philosopher who made significant contributions to philosophy of science, the theory of measurement, the foundations of quantum mechanics, decision theory, psychology and educational technology.
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Probability
Probability is the measure of the likelihood that an event will occur.
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Risk
Risk is the potential of gaining or losing something of value.
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Sidney Siegel
Sidney Siegel (4 January 1916 in New York City – 29 November 1961) was an American psychologist who became especially well known for his work in popularising non-parametric statistics for use in the behavioural sciences.
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Stanford University Press
The Stanford University Press (SUP) is the publishing house of Stanford University.
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Utility
Within economics the concept of utility is used to model worth or value, but its usage has evolved significantly over time.
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Savage Paradigm, Savage paradigm, Subjectively expected utility.
References
[1] https://en.wikipedia.org/wiki/Subjective_expected_utility
