Related papers: Preferences Relations and Consumer Theory
The features of a logically sound approach to a theory of statistical reasoning are discussed. A particular approach that satisfies these criteria is reviewed. This is seen to involve selection of a model, model checking, elicitation of a…
Various tasks in decision making and decision support systems require selecting a preferred subset of a given set of items. Here we focus on problems where the individual items are described using a set of characterizing attributes, and a…
A theoretical self-sustainable economic model is established based on the fundamental factors of production, consumption, reservation and reinvestment, where currency is set as a unconditional credit symbol serving as transaction equivalent…
Learning of preference models from human feedback has been central to recent advances in artificial intelligence. Motivated by the cost of obtaining high-quality human annotations, we study efficient human preference elicitation for…
There are several contexts of non-monotonic reasoning where a priority between rules is established whose purpose is preventing conflicts. One formalism that has been widely employed for non-monotonic reasoning is the sceptical one known as…
We study links between first-order formulas and arbitrary properties for families of theories, classes of structures and their isomorphism types. Possibilities for ranks and degrees for formulas and theories with respect to given properties…
The famous Afriat's theorem from the theory of revealed preferences establishes necessary and suffient conditions for existence of utility function for a given set of choices and prices. The result on existence of a {\it homogeneous}…
We explore heterogeneous prices as a source of heterogeneous or stochastic demand. Heterogeneous prices could arise either because there is actual price variation among consumers or because consumers (mis)perceive prices differently. Our…
The growing complexity of modern practical problems puts high demands on the mathematical modelling. Given that various models can be used for modelling one physical phenomenon, the role of model comparison and model choice becomes…
A recent line of work, starting with Beigman and Vohra (2006) and Zadimoghaddam and Roth (2012), has addressed the problem of {\em learning} a utility function from revealed preference data. The goal here is to make use of past data…
We propose a control-theoretic interpretation of recommender systems and use this perspective to analyze how fairness interventions shape long-term system behavior. Fairness concerns arise for both users and creators, ranging from opinion…
A broad range of on-line behaviors are mediated by interfaces in which people make choices among sets of options. A rich and growing line of work in the behavioral sciences indicate that human choices follow not only from the utility of…
We develop a general framework for incorporating distributional preferences in market design. We identify the structural properties of these preferences that guarantee the path independence of choice rules. In decentralized settings, a…
We prove the existence of optimal strategies for agents with cumulative prospect theory preferences who trade in a continuous-time illiquid market, transcending known results which pertained only to risk-averse utility maximizers. The…
We consider the psychological effect of preference reversal and show that it finds a natural explanation in the frame of quantum decision theory. When people choose between lotteries with non-negative payoffs, they prefer a more certain…
People sometimes change their opinions when they discuss things with other people. Researchers can use mathematics to study opinion changes in simplifications of real-life situations. These simplified settings, which are examples of…
In this paper, we present a link between preference-based and multiobjective sequential decision-making. While transforming a multiobjective problem to a preference-based one is quite natural, the other direction is a bit less obvious. We…
Many economic theories have been introduced over the course of history to articulate our understanding of the economy. Classical theories by Adam Smith and David Ricardo's Comparative Advantage have been foundational for the last century's…
Many real world problems can be defined as optimisation problems in which the aim is to maximise an objective function. The quality of obtained solution is directly linked to the pertinence of the used objective function. However, designing…
Algorithmic pricing is the computational problem that sellers (e.g., in supermarkets) face when trying to set prices for their items to maximize their profit in the presence of a known demand. Guruswami et al. (2005) propose this problem…