Related papers: Ordered Reference Dependent Choice
In this paper, we introduce a model that adds a non-linearity to discounting: the discounting factor may depend on the notional (i.e., discounted values are no longer linear in the notional). In the first part of the paper, we provide a…
Recent work on the logical structure of non-locality has constructed scenarios where observations of multi-partite systems cannot be adequately described by compositions of non-signaling subsystems. In this paper we apply these frameworks…
Traditional learning approaches for classification implicitly assume that each mistake has the same cost. In many real-world problems though, the utility of a decision depends on the underlying context $x$ and decision $y$. However,…
Standard methods of using categorical variables as predictors either endow them with an ordinal structure or assume they have no structure at all. However, categorical variables often possess structure that is more complicated than a linear…
We characterize those ex-ante restrictions on the random utility model which lead to identification. We first identify a simple class of perturbations which transfer mass from a suitable pair of preferences to the pair formed by swapping…
Understanding and quantifying causal relationships between variables is essential for reasoning about the physical world. In this work, we develop a resource-theoretic framework to do so. Here, we focus on the simplest nontrivial setting --…
Non-deductive reasoning systems are often {\em representation dependent}: representing the same situation in two different ways may cause such a system to return two different answers. Some have viewed this as a significant problem. For…
Preferences often change -- even in short time intervals -- due to either the mere passage of time (present-biased preferences) or changes in environmental conditions (state-dependent preferences). On the basis of the empirical findings in…
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…
Existing methods for differentiable structure learning in discrete data typically assume that the data are generated from specific structural equation models. However, these assumptions may not align with the true data-generating process,…
Qualitative and quantitative approaches to reasoning about uncertainty can lead to different logical systems for formalizing such reasoning, even when the language for expressing uncertainty is the same. In the case of reasoning about…
We study a discrete-time consumption-based capital asset pricing model under expectations-based reference-dependent preferences. More precisely, we consider an endowment economy populated by a representative agent who derives utility from…
This paper develops some mathematical models arising in behavioral sciences, particularly in psychology, which are formalized via general preferences with variable ordering structures. Our considerations are based on the recent variational…
This essay looks at decision-making with interval-valued probability measures. Existing decision methods have either supplemented expected utility methods with additional criteria of optimality, or have attempted to supplement the…
An important question in economics is how people choose between different payments in the future. The classical normative model predicts that a decision maker discounts a later payment relative to an earlier one by an exponential function…
This paper studies choice situations in which a decision maker can choose multiple alternatives. Given a menu of available options, the decision maker selects a subset of the menu with certain probabilities. We employ an axiomatic approach…
Multicriteria decision analysis aims at supporting a person facing a decision problem involving conflicting criteria. We consider an additive utility model which provides robust conclusions based on preferences elicited from the decision…
The primary theme of this investigation is a decision theoretic account of conditional ought statements (e.g., "You ought to do A, if C") that rectifies glaring deficiencies in classical deontic logic. The resulting account forms a sound…
In a three state kinetic exchange opinion formation model, the effect of extreme switches was considered in a recent paper. In the present work, we study the same model with disorder. Here disorder implies that negative interactions may…
Preference Inference involves inferring additional user preferences from elicited or observed preferences, based on assumptions regarding the form of the user's preference relation. In this paper we consider a situation in which…