Related papers: Truth as Utility: A Conceptual Synthesis
I present a novel mathematical technique for dealing with the infinities arising from divergent sums and integrals. It assigns them fine-grained infinite values from the set of hyperreal numbers in a manner that refines the standard…
Many-valued logics in general, and fuzzy logics in particular, usually focus on a notion of consequence based on preservation of full truth, typical represented by the value 1 in the semantics given the real unit interval [0,1]. In a recent…
Expected Utility: Algebraic Expected Utility In this paper, we provide two axiomatizations of algebraic expected utility, which is a particular generalized expected utility, in a von Neumann-Morgenstern setting, i.e. uncertainty…
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…
We establish a variety of numerical representations of preference relations induced by set-valued risk measures. Because of the general incompleteness of such preferences, we have to deal with multi-utility representations. We look for…
An alternative mathematics based on qualitative plurality of finiteness is developed to make non-standard mathematics independent of infinite set theory. The vague concept "accessibility" is used coherently within finite set theory whose…
Multicriteria decision analysis aims at supporting a person facing a decision problem involving conflicting criteria. We consider an additive utility model which provides robust conclusions based on preferences elicited from the decision…
The consideration of nonstandard models of the real numbers and the definition of a qualitative ordering on those models provides a generalization of the principle of maximization of expected utility. It enables the decider to assign…
Research on summarization has mainly been driven by empirical approaches, crafting systems to perform well on standard datasets with the notion of information Importance remaining latent. We argue that establishing theoretical models of…
This paper is an original attempt to understand the foundations of economic reasoning. It endeavors to rigorously define the relationship between subjective interpretations and objective valuations of such interpretations in the context of…
Linear implication can represent state transitions, but real transition systems operate under temporal, stochastic or probabilistic constraints that are not directly representable in ordinary linear logic. We propose a general modal…
This paper proposes a theoretical framework which models the information provided by retrieval systems in terms of Information Theory. The proposed framework allows to formalize: (i) system effectiveness as an information theoretic…
To deal with uncertainty in reasoning, interval-valued logic has been developed. But uniform intervals cannot capture the difference in degrees of belief for different values in the interval. To salvage the problem triangular and…
Classic decision-theory is based on the maximum expected utility (MEU) principle, but crucially ignores the resource costs incurred when determining optimal decisions. Here we propose an axiomatic framework for bounded decision-making that…
Within the possibilistic approach to uncertainty modeling, the paper presents a modal logical system to reason about qualitative (comparative) statements of the possibility (and necessity) of fuzzy propositions. We relate this qualitative…
The aim of this paper is to propose a generalization of previous approaches in qualitative decision making. Our work is based on the binary possibilistic utility (PU), which is a possibilistic counterpart of Expected Utility (EU).We first…
Random utility theory models an agent's preferences on alternatives by drawing a real-valued score on each alternative (typically independently) from a parameterized distribution, and then ranking the alternatives according to scores. A…
This paper mainly focuses on (1) a generalized treatment of fuzzy sets of type $n$, where $n$ is an integer larger than or equal to $1$, with an example, mathematical discussions, and real-life interpretation of the given mathematical…
A decision maker's utility depends on her action $a\in A \subset \mathbb{R}^d$ and the payoff relevant state of the world $\theta\in \Theta$. One can define the value of acquiring new information as the difference between the maximum…
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;…