Related papers: Nonlinear desirability theory
We consider the problem of directly optimizing a non-linear function of an outcome, where this outcome itself is the sum of many small contributions. The non-linearity of the function means that the problem is not equivalent to the…
Model-based curiosity combines active learning approaches to optimal sampling with the information gain based incentives for exploration presented in the curiosity literature. Existing model-based curiosity methods look to approximate…
Loss-based updating, including generalized Bayes, Gibbs, and quasi-posteriors, replaces likelihoods by a user-chosen loss and produces a posterior-like distribution via exponential tilt. We give a decision-theoretic characterization that…
Following the work of Lloyd Shapley on the Shapley value, and tangentially the work of Guillermo Owen, we offer an alternative non-probabilistic formulation of part of the work of Robert J. Weber in his 1978 paper "Probabilistic values for…
Description logics are a powerful tool for describing ontological knowledge bases. That is, they give a factual account of the world in terms of individuals, concepts and relations. In the presence of uncertainty, such factual accounts are…
We propose a multivariate extension of Yaari's dual theory of choice under risk. We show that a decision maker with a preference relation on multidimensional prospects that preserves first order stochastic dominance and satisfies…
Priority-based allocation of individuals to positions are pervasive, and elimination of justified envy is often, an absolute requirement. This leaves serial dictatorship (SD) as the only rule that avoids justified envy under standard direct…
There is a lack of consensus within the literature as to how `fairness' of algorithmic systems can be measured, and different metrics can often be at odds. In this paper, we approach this task by drawing on the ethical frameworks of…
Nash's solution in his celebrated article on the bargaining problem calling for maximization of product of marginal utilities is revisited; a different line of argument supporting such a solution is suggested by straightforward or more…
We propose a new notion of credibility for Bayesian persuasion problems. A disclosure policy is credible if the sender cannot profit from tampering with her messages while keeping the message distribution unchanged. We show that the…
In coalitional games, a player $i$ is regarded as strictly more desirable than player $j$ if substituting $j$ with $i$ within any coalition leads to a strict augmentation in the value of certain coalitions, while preserving the value of the…
In a consideration set model, an individual maximizes utility among the considered alternatives. I relate a consideration set additive random utility model to classic discrete choice and the extended additive random utility model, in which…
Harsanyi (1955) showed that the only way to aggregate individual preferences into a social preference which satisfies certain desirable properties is ``utilitarianism'', whereby the social utility function is a weighted average of…
A buyer wishes to purchase a durable good from a seller who in each period chooses a mechanism under limited commitment. The buyer's valuation is binary and fully persistent. We show that posted prices implement all equilibrium outcomes of…
In applied game theory the motivation of players is a key element. It is encoded in the payoffs of the game form and often based on utility functions. But there are cases were formal descriptions in the form of a utility function do not…
Propositional term modal logic is interpreted over Kripke structures with unboundedly many accessibility relations and hence the syntax admits variables indexing modalities and quantification over them. This logic is undecidable, and we…
We develop a tractable model of realization utility that studies the role of reference-dependent S-shaped preferences in a dynamic investment setting with reinvestment. Our model generates both voluntarily realized gains and losses. It…
Standard decision theory seeks conditions under which a preference relation can be compressed into a single real-valued function. However, when preferences are incomplete or intransitive, a single function fails to capture the agent's…
It is well known that ex ante social preferences and expected utility are not always compatible. In this note, we introduce a novel framework that naturally separates social preferences from selfish preferences to answer the following…
In this paper, several results concerning attraction and asymptotic stability in the large of nonlinear ordinary differential equations are presented. The main result is very simple to apply yielding a sufficient condition under which the…