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.
We tweak the notation ℓa =µα1 + (1−µ)α0, ℓˆa =µˆα1 + (1−µ) ˆα0, and ℓb =µβ1 + (1−µ)β0, and defineW (µ) := max{ℓa,ℓˆa,ℓb}
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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.