Related papers: The Theory of Weak Revealed Preference
This paper analyzes a society composed of individuals who have diverse sets of beliefs (or models) and diverse tastes (or utility functions). It characterizes the model selection process of a social planner who wishes to aggregate…
Reward factorization personalizes large language models (LLMs) by decomposing rewards into shared basis functions and user-specific weights. Yet, existing methods estimate user weights from scarce data in isolation and as deterministic…
An analyst observes the frequency with which a decision maker (DM) takes actions, but not the frequency conditional on payoff-relevant states. We ask when the analyst can rationalize the DM's choices as if the DM first learns something…
Feature selection is one of the most fundamental problems in machine learning. An extensive body of work on information-theoretic feature selection exists which is based on maximizing mutual information between subsets of features and class…
A common phenomena in modern recommendation systems is the use of feedback from one user to infer the `value' of an item to other users. This results in an exploration vs. exploitation trade-off, in which items of possibly low value have to…
The random utility model, a cornerstone in economics, is axiomatized by Falmagne (1978) and McFadden and Richter (1990) with the assumption that if a menu is observable, the choice frequencies of all alternatives are also observable.…
We analyze and quantify, in a financial market with parameter uncertainty and for a Constant Relative Risk Aversion investor, the utility effects of two different boundedly rational (i.e., sub-optimal) investment strategies (namely, myopic…
Fashion preference is a fuzzy concept that depends on customer taste, prevailing norms in fashion product/style, henceforth used interchangeably, and a customer's perception of utility or fashionability, yet fashion e-retail relies on…
Central to privacy concerns is that firms may use consumer data to price discriminate. A common policy response is that consumers should be given control over which firms access their data and how. Since firms learn about a consumer's…
We develop a nonparametric approach to identify and estimate consumer preferences and unobserved heterogeneity under nonlinear price schedules. Leveraging variation across multiple price schedules, we show that both the utility function and…
We develop a general model of discrete choice that incorporates peer effects in preferences and consideration sets. We characterize the equilibrium behavior and establish conditions under which all parts of the model can be recovered from a…
We analyze the problem of learning a single user's preferences in an active learning setting, sequentially and adaptively querying the user over a finite time horizon. Learning is conducted via choice-based queries, where the user selects…
Strategic classification studies learning in settings where self-interested users can strategically modify their features to obtain favorable predictive outcomes. A key working assumption, however, is that "favorable" always means…
In problems involving the allocation of a single non-disposable commodity, we study rules defined on a general domain of preferences requiring only that each preference exhibit a unique global maximum. Our focus is on rules that satisfy a…
The long-standing unitary-actor assumption in strategy research -- treating firms as monolithic entities with coherent preferences -- misses that organizations are coalitions of individuals with diverse and often conflicting goals. Although…
We study a sequential decision-making problem motivated by recent regulatory and technological shifts that limit access to individual user data in recommender systems (RSs), leaving only population-level preference information. This…
How do we ascribe subjective probability? In decision theory, this question is often addressed by representation theorems, going back to Ramsey (1926), which tell us how to define or measure subjective probability by observable preferences.…
Given a set U of alternatives, a choice (correspondence) on U is a contractive map c defined on a family Omega of nonempty subsets of U. Semantically, a choice c associates to each menu A in Omega a nonempty subset c(A) of A comprising all…
This paper axiomatizes, in a two-stage setup, a new theory for decision under risk and ambiguity. The axiomatized preference relation $\succeq$ on the space $\tilde{V}$ of random variables induces an ambiguity index $c$ on the space…
The closed feedback loop in recommender systems is a common setting that can lead to different types of biases. Several studies have dealt with these biases by designing methods to mitigate their effect on the recommendations. However, most…