Explore BrainMass

Explore BrainMass

    Brief discussion and an example of the difference between Savage's and Jeffrey's frameworks for decision theory.

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What is the main difference between Savage's and Jeffrey's framework for decision theory?

    © BrainMass Inc. brainmass.com March 4, 2021, 5:47 pm ad1c9bdddf
    https://brainmass.com/philosophy/logic-critical-thinking/11247

    Solution Preview

    1. Savage's framework

    Jeffrey's decision-theoretic model is meant to enrich the classical Savage type framework. In Savage's model, states of nature are probabilistically independent of acts. The decision-maker chooses the act that has the greatest expected utility (EU), which is computed as a weighted ...

    $2.49

    ADVERTISEMENT