The paper characterizes all modifications to a target action that remain preferred to a status-quo alternative for every increasing concave utility and every belief over states.
2 0 when the menu isˆa and b is ˆV (µ) := max˜a∈{ˆa,b}Eµu(˜aθ), and when she has this menu the DM solves max ˆF∈F(µ0) ∫ ∆ ˆV (µ)d ˆF (µ)−D ( ˆF )
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How to Make an Action Attractive
The paper characterizes all modifications to a target action that remain preferred to a status-quo alternative for every increasing concave utility and every belief over states.