If an agent's preferences over subjectively uncertain acts are consistent with his or her having a subjective probability distribution over the states of nature, then those preferences can induce ...

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 ...

Subjective Probability In the course of their daily lives men must constantly measure the probability of events. How these personal judgements conform to the actual laws of probability is investigated ...

New research uncovers why an increase in probability feels riskier than a decrease. The research falls under the realm of subjective probability, also known as likelihood or risk. While past research ...

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.