Subjective expected utility without preferences

Denis Bouyssou (1) , Thierry Marchant (2)

1 LAMSADE - Laboratoire d'analyse et modélisation de systèmes pour l'aide à la décision
2 Department of Data Analysis

This paper proposes a theory of subjective expected utility based on primitives only involving the fact that an act can be judged either "attractive" or "unattractive". We give conditions implying that there are a utility function on the set of consequences and a probability distribution on the set of states such that attractive acts have a subjective expected utility above some threshold. The numerical representation that is obtained has strong uniqueness properties.

Mots clés: Subjective Expected Utility; Conjoint Measurement

Domaines: Economies et finances

Denis Bouyssou, Thierry Marchant. Subjective expected utility without preferences. 2011. ⟨hal-00606939⟩