Related papers: Qualitative Models for Decision Under Uncertainty …
Economists often estimate economic models on data and use the point estimates as a stand-in for the truth when studying the model's implications for optimal decision-making. This practice ignores model ambiguity, exposes the decision…
This position paper reflects on the state-of-the-art in decision-making under uncertainty. A classical assumption is that probabilities can sufficiently capture all uncertainty in a system. In this paper, the focus is on the uncertainty…
Approaches to decision-making under uncertainty in the belief function framework are reviewed. Most methods are shown to blend criteria for decision under ignorance with the maximum expected utility principle of Bayesian decision theory. A…
Most traditional models of uncertainty have focused on the associational relationship among variables as captured by conditional dependence. In order to successfully manage intelligent systems for decision making, however, we must be able…
Our preferences depend on the circumstances in which we reveal them. We will introduce a dependency which allows us to illustrate the relation between the possibility of winning of particular candidates in a quantum election and the type of…
We propose and axiomatize a new model of incomplete preferences under uncertainty, which we call \textit{hope-and-prepare preferences}. An act is considered more desirable than an other act when, and only when, both an optimistic…
Decision-making under uncertainty and causal thinking are fundamental aspects of intelligent reasoning. Decision-making has been well studied when the available information is considered at the associative (probabilistic) level. The…
Utility preference robust optimization (PRO) has recently been proposed to deal with optimal decision making problems where the decision maker's (DM) preference over gains and losses is ambiguous. In this paper, we take a step further to…
Classical Decision Theory provides a normative framework for representing and reasoning about complex preferences. Straightforward application of this theory to automate decision making is difficult due to high elicitation cost. In response…
In the theory of social choice the research is focused around the projection of individual preference orders to the social preference order. Also, the justification of the preference order formalism begins with the concept of utility i.e.…
The efficacy of robust optimization spans a variety of settings with uncertainties bounded in predetermined sets. In many applications, uncertainties are affected by decisions and cannot be modeled with current frameworks. This paper takes…
The principle that rational agents should maximize expected utility or choiceworthiness is intuitively plausible in many ordinary cases of decision-making under uncertainty. But it is less plausible in cases of extreme, low-probability risk…
We discuss conditionalisation for Accept-Desirability models in an abstract decision-making framework, where uncertain rewards live in a general linear space, and events are special projection operators on that linear space. This abstract…
We consider a model where an agent is must choose between alternatives that each provide only an imprecise description of the world (e.g. linguistic expressions). The set of alternatives is closed under logical conjunction and disjunction,…
Nontransitive choices have long been an area of curiosity within economics. However, determining whether nontransitive choices represent an individual's preference is a difficult task since choice data is inherently stochastic. This paper…
The reasoning with qualitative uncertainty measures involves comparative statements about events in terms of their likeliness without necessarily assigning an exact numerical value to these events. The paper is divided into two parts. In…
We study group decision making with changing preferences as a Markov Decision Process. We are motivated by the increasing prevalence of automated decision-making systems when making choices for groups of people over time. Our main…
We study a simple example of a sequential game illustrating problems connected with making rational decisions that are universal for social sciences. The set of chooser's optimal decisions that manifest his preferences in case of a constant…
Preferences among acts are analyzed in the style of L. Savage, but as partially ordered. The rationality postulates considered are weaker than Savage's on three counts. The Sure Thing Principle is derived in this setting. The postulates are…
We provide a decision-theoretic framework for dealing with uncertainty in quantum mechanics. This uncertainty is two-fold: on the one hand there may be uncertainty about the state the quantum system is in, and on the other hand, as is…