Kim C. Border's Research
My recent research is generally in the area of decision theory, particularly, mathematical characterizations of the behavior implied by expected utility theory and some of its alternatives. In betting situations it is difficult to determine if an odds-maker obeys the expected utility hypothesis. Uzi Segal and I have constructed examples in which an expected utility odds-maker behaves in an apparently irrational fashion, in response to the presence of non-EUH decision makers. In other words, classically rational behavior may not be the classically rational best response to non-classically rational behavior. We (along with Paolo Ghirardato) are also investigating the extent to which subjective probabilities must approximately agree. If the subjective probabilities are atomless (every event can be subdivided into to events of positive probability) then there is very rich set of events for which everyone must agree to the probability. We are looking for algorithms to construct events for which everyone almost agrees.
Last updated: August 11, 2009 14:21
