Great Expectations. Part II: Generalized Expected Utility as a Universal Decision Rule

Abstract

Many different rules for decision making have been introduced in the literature. We show that a notion of generalized expected utility proposed in Part I of this paper is a universal decision rule, in the sense that it can represent essentially all other decision rules.Comment: Preliminary version appears in Proc. 18th International Joint Conference on AI (IJCAI), 2003, pp. 297-30