Correlation Concern

• Tác giả: Andrew Ellis
• Ngôn ngữ: eng
• Ký hiệu phân loại: 513.57 Arithmetic
• Thông tin xuất bản: 2021
• Bộ sưu tập: Báo, Tạp chí
• ID: 167060

Tóm tắt

In many choice problems, the interaction between several distinct variables determines the payoff of each alternative. I propose and axiomatize a model of a decision maker who recognizes that she may not accurately perceive the correlation between these variables, and who takes this into account when making her decision. She chooses as if she calculates each alternative's expected outcome under multiple possible correlation structures, and then evaluates it according to the worst expected outcome.