An act maps states of nature to outcomes; deterministic outcomes as well as random outcomes are included. Two acts f and g are comonotonic, by definition, if it never happens that f(s)>f(t) and g(t)>g ...

Recent models for fertility decision-making emphasize that subjective probabilities and beliefs may be as important determinants of fertility decisions as are attitudes, values, and utilities. This ...

raising awareness about subjectivity through training on probability and expert judgments of subjective probabilities, Heuristics and biases, and possible impact of subjectivity on RBDM using formal ...

IN a communication under the above title, Cohen and Hansel 1 point out that if a prize is certain and large enough, in relation to the individual's scale of values, it will be preferred to an ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past, or is happening now outside our immediate experience. Uncertainty has been called the ...

Roth, A. E., and F. Schoumaker. "Subjective Probability and the Theory of Games: Some Further Comment." Management Science 29, no. 11 (November 1983): 1337–1340.

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J Catalano is a CFP and Registered ...