Elicitation of subjective probabilities in the context of decision-making by R K Sarin (Working Paper, No. 1976/105) Sarin, R K

By: Sarin, R K
Material type: TextTextPublisher: Ahmedabad Indian Institute of Management 1976Description: 24 p.Subject(s): Decision-making | ProbabilitiesDDC classification: WP 1976 (105) Summary: In this paper a framework is developed to seek information from the decision-maker about uncertain events, and to use this information for identifying a preferred alternative. Existing methods are examined critically to determine the best strategy for eliciting subjective probabilities in the context of decision-making. It is shown how a preferred alternative can be identified with less than perfect knowledge of the probabilities.
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Working Paper Vikram Sarabhai Library
WP 1976 (105) (Browse shelf) Available WP000105

In this paper a framework is developed to seek information from the decision-maker about uncertain events, and to use this information for identifying a preferred alternative. Existing methods are examined critically to determine the best strategy for eliciting subjective probabilities in the context of decision-making. It is shown how a preferred alternative can be identified with less than perfect knowledge of the probabilities.

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