Related papers: Minimal conditions for parametric continuity of a …
To determine the welfare implications of price changes in demand data, we introduce a revealed preference relation over prices. We show that the absence of cycles in this relation characterizes a consumer who trades off the utility of…
Probability of necessity and sufficiency (PNS) measures the likelihood of a feature set being both necessary and sufficient for predicting an outcome. It has proven effective in guiding representation learning for unimodal data, enhancing…
Human cooperation depends on how accurately we infer others' motives--how much they value fairness, generosity, or self-interest from the choices they make. We model that process in binary dictator games, which isolate moral trade-offs…
Within the framework of the hypothesis offered by authors about a complex-valued nature of physical quantities the stability of basic equations of the classical physics concerning complex-valued perturbations of parameters and boundary…
In Bayesian networks, a Most Probable Explanation (MPE) is a complete variable instantiation with a highest probability given the current evidence. In this paper, we discuss the problem of finding robustness conditions of the MPE under…
A mixture preorder is a preorder on a mixture space (such as a convex set) that is compatible with the mixing operation. In decision theoretic terms, it satisfies the central expected utility axiom of strong independence. We consider when a…
We consider a financial market in discrete time and study pricing and hedging conditional on the information available up to an arbitrary point in time. In this conditional framework, we determine the structure of arbitrage-free prices.…
Gambles are random variables that model possible changes in monetary wealth. Classic decision theory transforms money into utility through a utility function and defines the value of a gamble as the expectation value of utility changes.…
We present a measure-theoretic condition for a property to hold ``almost everywhere'' on an infinite-dimensional vector space, with particular emphasis on function spaces such as $C^k$ and $L^p$. Like the concept of ``Lebesgue almost…
This paper presents four theorems that connect continuity postulates in mathematical economics to solvability axioms in mathematical psychology, and ranks them under alternative supplementary assumptions. Theorem 1 connects notions of…
We study the robustness of Bayesian persuasion to uncertainty about the receiver's preferences. We analyze two conceptually distinct notions: continuity, in which only the modeler lacks precise knowledge, but where the model's predictions…
A general principle is advanced allowing the classification of nonunique solutions to nonlinear evolution equations, corresponding to different spatio-temporal patterns. This is done by defining the probability distribution of patterns,…
A dynamic model of collective consumption and saving decisions made by a finite number of agents with constant but different discount rates is developed. Collective utility is a weighted sum of individual utilities with time-varying utility…
A Bayesian design is given by maximising an expected utility over a design space. The utility is chosen to represent the aim of the experiment and its expectation is taken with respect to all unknowns: responses, parameters and/or models.…
This work takes up the challenges of utility maximization problem when the market is indivisible and the transaction costs are included. First there is a so-called solvency region given by the minimum margin requirement in the problem…
We study consumption dependence in the context of random utility and repeated choice. We show that, in the presence of consumption dependence, the random utility model is a misspecified model of repeated rational choice. This…
The maximum entropy principle can be used to assign utility values when only partial information is available about the decision maker's preferences. In order to obtain such utility values it is necessary to establish an analogy between…
Learning problems commonly exhibit an interesting feedback mechanism wherein the population data reacts to competing decision makers' actions. This paper formulates a new game theoretic framework for this phenomenon, called "multi-player…
Recently Feinberg et al. [arXiv:1609.03990] established results on continuity properties of minimax values and solution sets for a function of two variables depending on a parameter. Such minimax problems appear in games with perfect…
We consider Bayesian optimization of expensive-to-evaluate experiments that generate vector-valued outcomes over which a decision-maker (DM) has preferences. These preferences are encoded by a utility function that is not known in closed…