Great expectations. Part II: generalized expected utility as a universal decision rule

Many different rules for decision making have been introduced in the literature. We show that a notion of generalized expected utility proposed in [F. Chu, J.Y. Halpern, Great expectation. Part I: On the customizability of generalized expected utility, in: Proc. IJCAI-03, Acapulco, Mexico, 2003] is a universal decision rule, in the sense that it can essentially all other decision rules. This approach gives us a general technique for designing new decision rules as well as providing a framework for comparing decision rules to each other.