Reconciling Savage’s and Luce’s modeling of uncertainty: The best of both worlds.

This paper recommends using mosaics, rather than ( σ -)algebras, as collections of events in decision under uncertainty. We show how mosaics solve the main problem of Savage’s (1954) uncertainty model, a problem pointed out by Duncan Luce. Using mosaics, we can connect Luce’s modeling of uncertainty with Savage’s. Thus, the results and techniques developed by Luce and his co-authors become available to currently popular theories of decision making under uncertainty and ambiguity. [ABSTRACT FROM AUTHOR]