Related papers: How is non-knowledge represented in economic theor…
Reasoning abilities of human beings are limited. Logics that treat logical inference for human knowledge should reflect these limited abilities. Logic of awareness is one of those logics. In the logic, what an agent with a limited reasoning…
This survey reviews recent developments in revealed preference theory. It discusses the testable implications of theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments;…
Assessing the systemic effects of uncertainty that arises from agents' partial observation of the true states of the world is critical for understanding a wide range of scenarios. Yet, previous modeling work on agent learning and…
No trade theorems examine conditions under which agents cannot agree to disagree on the value of a security which pays according to some state of nature, thus preventing any mutual agreement to trade. A large literature has examined…
Prediction problems in finance go beyond estimating the unknown parameters of a model (e.g. of expected returns). This is because such a model would have to include parameters governing the market participants' propensity to change their…
In the past decades, advanced probabilistic methods have had significant impact on the field of finance, both in academia and in the financial industry. Conversely, financial questions have stimulated new research directions in probability.…
Consensus formation is investigated for multi-agent systems in which agents' beliefs are both vague and uncertain. Vagueness is represented by a third truth state meaning \emph{borderline}. This is combined with a probabilistic model of…
The uncertainty quantification and risk modeling are hot topics in the operation and planning of energy systems. The system operators and planners are decision-makers that need to handle the uncertainty of input data of their models. As an…
We study future-blind preferences, which are preferences that heavily discount the future, within the space of infinite consumption streams. We give two definitions: $N$-blindness, where agents ignore periods beyond a fixed date $N$, and…
In the present article we use the quantum formalism to describe the process of choice under rational ignorance. We consider as a basic task a question or an issue where the only answers are 0 and 1. We show that under rational ignorance the…
We study a general class of dynamic multi-agent decision problems with asymmetric information and non-strategic agents, which includes dynamic teams as a special case. When agents are non-strategic, an agent's strategy is known to the other…
This paper argues the need for research to realize uncertainty-aware artificial intelligence and machine learning (AI\&ML) systems for decision support by describing a number of motivating scenarios. Furthermore, the paper defines…
This paper investigates the formal pragmatics of ambiguous expressions by modeling ambiguity in a multi-agent system. Such a framework allows us to give a more refined notion of the kind of information that is conveyed by ambiguous…
We study a class of heterogeneous agent-based models which are based on a basic set of principles, and the most fundamental operations of an economic system: trade and product transformations. A basic guiding principle is scale invariance,…
We propose a general framework for strategic voting when a voter may lack knowledge about other votes or about other voters' knowledge about her own vote. In this setting we define notions of manipulation and equilibrium. We also model…
Though a lot of work in multi-agent systems is focused on reasoning about knowledge and beliefs of artificial agents, an explicit representation and reasoning about the presence/absence of agents, especially in the scenarios where agents…
Theoretically as well as experimentally it is investigated how people represent their knowledge in order to make decisions or to share their knowledge with others. Experiment 1 probes into the ways how people 6ather information about the…
When making decisions under risk, people often exhibit behaviors that classical economic theories cannot explain. Newer models that attempt to account for these irrational behaviors often lack neuroscience bases and require the introduction…
In current presence or availability systems, the method of presenting a user's state often supposes an instantaneous notion of that state - for example, a visualization is rendered or an inference is made about the potential actions that…
We introduce a new semantics for a multi-agent epistemic operator of knowing how, based on an indistinguishability relation between plans. Our proposal is, arguably, closer to the standard presentation of knowing that modalities in…