'Current wealth' diaporamas de présentation

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Information and Risk in Contracts

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Normative Decision Theory

Normative Decision Theory. A prescriptive theory for how decisions should be made to maximize the value of decision outcomes for an individual. Decision Theory. Quantify preferences on outcomes s U( s,a ) Quantify Beliefs about outcomes of actions P(s|O,A) where

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Axioms

Axioms. Let W be statements known to be true in a domain An axiom is a rule presumed to be true An axiomatic set is a collection of axioms Given an axiomatic set A, the domain theory of A, domTH(A) is the collection of all things that can be derived from A. W ? domTh(A). domTh(A) ? W.

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Summary So Far

Summary So Far. Extremes in classes of games: Nonadversarial, perfect information, deterministic Adversarial, imperfect information, chance. ? Adversarial, perfect information, deterministic . Adversarial, perfect information, deterministic Minimax trees

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