Related papers: Rational Choice Hypothesis as X-point of Utility F…
The human society is a very complex system; still, there are several non-trivial, general features. One type of them is the presence of power-law distributed quantities in temporal statistics. In this Letter, we focus on the origin of…
This paper studies decision problems where the decision maker's choice of action affects the probability distribution of a payoff relevant random variable. We establish sufficient conditions for the existence of an expected utility…
Genetic information and environmental factors determine the path of an individuals life and therefore, the evolution of its entire species. We have succeeded in proposing and studying a model that captures this idea. In our model, a…
Active inference is a leading theory of perception, learning and decision making, which can be applied to neuroscience, robotics, psychology, and machine learning. Active inference is based on the expected free energy, which is mostly…
This paper elaborates about the potential risk of systemic instabilities in future networks and proposes a methodology to mitigate it. The starting concept is modeling the network as a complex environment (e.g. ecosystem) of resources and…
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…
Decision makers sometimes cannot observe the consequences of their actions ex-post. This paper axiomatically characterizes a decision model in which the decision maker cares about verifying that a good consequence has been achieved.…
The state of economic theory and accumulated facts from the different branches of the economic science require to analyze the concept of the description of economy systems. The economic reality generates the problems the solution of that is…
This article presents a pragmatic framework for making formal, utility-based decisions from statistical inferences. The method calculates an expected utility score for an intervention by combining Bayesian posterior probabilities of…
This technical note considers the sampling of outcomes that provide the greatest amount of information about the structure of underlying world models. This generalisation furnishes a principled approach to structure learning under a…
We study how motivated reasoning affects the provision of climate policy in an electoral competition framework. Voters experience anticipatory disutility when future outcomes appear grim and may therefore distort beliefs in response to…
The Availability bias, manifested in the over-representation of extreme eventualities in decision-making, is a well-known cognitive bias, and is generally taken as evidence of human irrationality. In this work, we present the first…
In this paper, we introduce the problem of decision-oriented communications, that is, the goal of the source is to send the right amount of information in order for the intended destination to execute a task. More specifically, we restrict…
Accurate modeling of opinion dynamics has the potential to help us understand polarization and what makes effective political discourse possible or impossible. Here, we use physics-based methods to model the evolution of political opinions…
The sustainable use of common-pool resources (CPRs) is a major environmental governance challenge because of their possible over-exploitation. Research in this field has overlooked the feedback between user decisions and resource dynamics.…
We propose a model of opinion formation on resource allocation among multiple topics by multiple agents, who are subject to hard budget constraints. We define a utility function for each agent and then derive a projected dynamical system…
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…
The concept of power can be explored at several scales: from physical action and process effectuation, all the way to complex social dynamics. A spectrum-wide analysis of power requires attention to the fundamental principles that constrain…
Autonomous robot swarms must be able to make fast and accurate collective decisions, but speed and accuracy are known to be conflicting goals. While collective decision-making is widely studied in swarm robotics research, only few works on…
We propose Exanna, a framework to realize agents that incorporate values in decision making. An Exannaagent considers the values of itself and others when providing rationales for its actions and evaluating the rationales provided by…