Related papers: Ordered Reference Dependent Choice
Possibility theory offers a framework where both Lehmann's "preferential inference" and the more productive (but less cautious) "rational closure inference" can be represented. However, there are situations where the second inference does…
While the classic Prospect Theory has highlighted the reference-dependent and comparative nature of consumers' product evaluation processes, few models have successfully integrated this theoretical hypothesis into data-driven preference…
The concept of "stochastic precedence" between two real-valued random variables has often emerged in different applied frameworks. In this paper we consider a slightly more general, and completely natural, concept of stochastic precedence…
A conditional knowledge base R is a set of conditionals of the form "If A, the usually B". Using structural information derived from the conditionals in R, we introduce the preferred structure relation on worlds. The preferred structure…
We propose and axiomatize preferences on a product state space in light of uncertainty regarding the dependency of different payoff-relevant factors. Dependence structures allow to decompose probabilities and allow to pin down behavior…
When making decisions under risk, people often exhibit behaviors that classical economic theories cannot explain. Newer models that attempt to account for these irrational behaviors often lack neuroscience bases and require the introduction…
Assessing the effects of a policy based on observational data from a different policy is a common problem across several high-stake decision-making domains, and several off-policy evaluation (OPE) techniques have been proposed. However,…
We propose new concepts in order to analyze and model the dependence structure between two time series. Our methods rely exclusively on the order structure of the data points. Hence, the methods are stable under monotone transformations of…
We show that it is possible to understand and identify a decision maker's subjective causal judgements by observing her preferences over interventions. Following Pearl [2000], we represent causality using causal models (also called…
In economic theory, an agent chooses from available alternatives -- modeled as a set. In decisions in the field or in the lab, however, agents do not have access to the set of alternatives at once. Instead, alternatives are represented by…
Reverse causality is a common causal misperception that distorts the evaluation of private actions and public policies. This paper explores the implications of this error when a decision maker acts on it and therefore affects the very…
Abstract argumentation has emerged as a method for non-monotonic reasoning that has gained popularity in the symbolic artificial intelligence community. In the literature, the different approaches to abstract argumentation that were refined…
Firms that price perishable resources -- airline seats, hotel rooms, seasonal inventory -- now routinely use demand predictions, but these predictions vary widely in quality. Under hard capacity constraints, acting on an inaccurate…
Individual choices often depend on the order in which the decisions are made. In this paper, we expose a general theory of measurable systems (an example of which is an individual's preferences) allowing for incompatible (non-commuting)…
Different types of reasoning impose different structural demands on representational systems, yet no systematic account of these demands exists across psychology, AI, and philosophy of mind. I propose a framework identifying four structural…
Methods for sequential decision-making are often built upon a foundational assumption that the underlying decision process is stationary. This limits the application of such methods because real-world problems are often subject to changes…
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm…
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…
The outcomes of elections, product sales, and the structure of social connections are all determined by the choices individuals make when presented with a set of options, so understanding the factors that contribute to choice is crucial. Of…
This paper studies axioms for nonmonotonic consequences from a semantics-based point of view, focusing on a class of mathematical structures for reasoning about partial information without a predefined syntax/logic. This structure is called…