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
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 ...