Abstract
The classical Ellsberg experiment provides decision-makers with a choice problem in which the likelihood of winning the gambling is uncertain. In this paper, we consider a two-dimensional Ellsberg experiment in which the likelihood of winning the gambling and the income after that are both uncertain, establish a mathematical model to characterize the corresponding Ellsberg experiment and solve the choice problem based on probability theory, uncertainty theory, and chance theory.
| Original language | English |
|---|---|
| Pages (from-to) | 527-543 |
| Number of pages | 17 |
| Journal | International Journal of General Systems |
| Volume | 53 |
| Issue number | 5 |
| DOIs | |
| State | Published - 2024 |
Keywords
- Ellsberg experiment
- Uncertainty theory
- chance theory
- urn problem
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