Related papers: Rational Choice Hypothesis as X-point of Utility F…
In this study we propose a unified model of optimal retirement, consumption and portfolio choice of an individual agent, which encompasses a large class of the models in the literature and provide a general methodology to solve the model.…
Richard Cox [1] set the axiomatic foundations of probable inference and the algebra of propositions. He showed that consistency within these axioms requires certain rules for updating belief. In this paper we use the analogy between…
Group fairness definitions such as Demographic Parity and Equal Opportunity make assumptions about the underlying decision-problem that restrict them to classification problems. Prior work has translated these definitions to other machine…
This paper provides a model to analyze and identify a decision maker's (DM's) hypothetical reasoning. Using this model, I show that a DM's propensity to engage in hypothetical thinking is captured exactly by her ability to recognize…
The digital economy implements complex incentive systems to retain users through point redemption. Understanding user behavior in such complex incentive structures presents a fundamental challenge, especially in estimating the value of…
Breaking a norm elicits both material and emotional consequences, yet how this coupling arose evolutionarily remains unclear. We investigate this question in light of emerging work suggesting that normativity's building blocks emerged…
We introduce a utility-driven bounded-confidence model of opinion dynamics in which opinions associated with higher utility exert stronger social influence. In the regime where all agents belong to a single opinion cluster, we derive a…
The Random Utility Model (RUM) is the leading model to represent the aggregate choices of a heterogeneous population of preference maximizers. We show that if (and only if) preferences are sufficiently uncorrelated, RUM choices can also be…
Functions or 'functionings' enable to give a structure to any activity and their combinations constitute the capabilities which characterize economic assets such as work utility. The basic law of supply and demand naturally emerges from…
The dynamics of technological, economic and social phenomena is controlled by how humans organize their daily tasks in response to both endogenous and exogenous stimulations. Queueing theory is believed to provide a generic answer to…
Two main procedures characterize the way in which social actors evaluate the qualities of the options in decision-making processes: they either seek to evaluate their intrinsic qualities (individual learners), or they rely on the opinion of…
Mutually exclusive decisions have been studied for decades. Many well-known decision theories have been defined to help people either to make rational decisions or to interpret people's behaviors, such as expected utility theory, regret…
A new model, called "Human Dynamics", has been recently proposed that individuals execute activities based on a perceived priority of tasks, which can be characterized by a power-law distribution of waiting time between consecutive tasks…
In the committee voting setting, a subset of $k$ alternatives is selected based on the preferences of voters. In this paper, our goal is to efficiently compute $\textit{ex-ante}$ fair probability distributions over committees. We introduce…
Recommendation systems (RSs) are increasingly used to guide job seekers on online platforms, yet the algorithms currently deployed are typically optimized for predictive objectives such as clicks, applications, or hires, rather than job…
This paper describes and motivates a new decision theory known as functional decision theory (FDT), as distinct from causal decision theory and evidential decision theory. Functional decision theorists hold that the normative principle for…
If uncertainty is modelled by a probability measure, decisions are typically made by choosing the option with the highest expected utility. If an imprecise probability model is used instead, this decision rule can be generalised in several…
In this paper, we present a novel model to characterize individual tendencies in repeated decision-making scenarios, with the goal of designing model-based control strategies that promote virtuous choices amidst social and external…
We study the problem of a planner who resolves risk-return trade-offs - like financial investment decisions - on behalf of a collective of agents with heterogeneous risk preferences. The planner's objective is a two-stage utility functional…
We consider different choice procedures such as scoring rules, rules, using majority relation, value function and tournament matrix, which are used in social and multi-criteria choice problems. We focus on the study of the properties that…