Related papers: Revealed Incomplete Preferences
We revisit empirical Bayes discrimination detection, focusing on uncertainty arising from both partial identification and sampling variability. While prior work has mostly focused on partial identification, we find that some empirical…
In order to find a way of measuring the degree of incompleteness of an incomplete financial market, the rank of the vector price process of the traded assets and the dimension of the associated acceptance set are introduced. We show that…
We study the problem of determination of asset prices in an incomplete market proposing three different but related scenarios. One scenario uses a market game approach whereas the other two are based on risk sharing or regret minimizing…
What would you do if you were invited to play a game where you were given \$25 and allowed to place bets for 30 minutes on a coin that you were told was biased to come up heads 60% of the time? This is exactly what we did, gathering 61…
We study the robustness of Bayesian persuasion to uncertainty about the receiver's preferences. We analyze two conceptually distinct notions: continuity, in which only the modeler lacks precise knowledge, but where the model's predictions…
We use machine learning to provide a tractable measure of the amount of predictable variation in the data that a theory captures, which we call its "completeness." We apply this measure to three problems: assigning certain equivalents to…
Like students facing hard exam questions, large language models sometimes guess when uncertain, producing plausible yet incorrect statements instead of admitting uncertainty. Such "hallucinations" persist even in state-of-the-art systems…
Indirect reciprocity promotes cooperation by allowing individuals to help others based on reputation rather than direct reciprocation. Because it relies on accurate reputation information, its effectiveness can be undermined by information…
We study approval-based committee voting in which a target number of candidates are selected based on voters' approval preferences over candidates. In contrast to most of the work, we consider the setting where voters express uncertain…
We discuss a non-intuitive situation concerning percentages.
We designed and ran an experiment to test how often people's choices are reversed by others' recommendations when facing different levels of confirmation and conformity pressures. In our experiment participants were first asked to provide…
We study the emergence of conformity preferences in an environment in which agents choose effort under heterogeneous, possibly misspecified returns, and social interactions do not directly affect material payoffs. Some agents choose effort…
To address the problem of narrow recommendation ranges caused by an emphasis on prediction accuracy, serendipitous recommendations, which consider both usefulness and unexpectedness, have attracted attention. However, realizing…
The general use of subjective probabilities to model belief has been justified using many axiomatic schemes. For example, ?consistent betting behavior' arguments are well-known. To those not already convinced of the unique fitness and…
When making important decisions such as choosing health insurance or a school, people are often uncertain what levels of attributes will suit their true preference. After choice, they might realize that their uncertainty resulted in a…
We show that probabilistic equivalence of a regret-based preference relationship over random variables is implied by a weak form of continuity and monotonicity.
Oscillatory behaviors are ubiquitous in nature and the human society. However, most previous works fail to reproduce them in the two-strategy game-theoretical models. Here we show that oscillatory behaviors naturally emerge if incomplete…
Choice functions constitute a simple, direct and very general mathematical framework for modelling choice under uncertainty. In particular, they are able to represent the set-valued choices that appear in imprecise-probabilistic decision…
Many biological, psychological and economic experiments have been designed where an organism or individual must choose between two options that have the same expected reward but differ in the variance of reward received. In this way,…
We consider a setting where an agent's uncertainty is represented by a set of probability measures, rather than a single measure. Measure-bymeasure updating of such a set of measures upon acquiring new information is well-known to suffer…