Related papers: Recursive Preferences and Ambiguity Attitudes
Asynchrony, overlaps and delays in sensory-motor signals introduce ambiguity as to which stimuli, actions, and rewards are causally related. Only the repetition of reward episodes helps distinguish true cause-effect relationships from…
We model learning in a continuous-time Brownian setting where there is prior ambiguity. The associated model of preference values robustness and is time-consistent. It is applied to study optimal learning when the choice between actions can…
This paper derives primitive, easily verifiable sufficient conditions for existence and uniqueness of (stochastic) recursive utilities for several important classes of preferences. In order to accommodate models commonly used in practice,…
We show that for a convex function the following, rather modest conditions, are equivalent to monotonicity under local operations and classical communication. The conditions are: 1)invariance under local unitaries, 2) invariance under…
A classic tension exists between exact inference in a simple model and approximate inference in a complex model. The latter offers expressivity and thus accuracy, but the former provides coverage of the space, an important property for…
By representing the range of fair betting odds according to a pair of confidence set estimators, dual probability measures on parameter space called frequentist posteriors secure the coherence of subjective inference without any prior…
Evidence-based decision-making entails collecting (costly) observations about an underlying phenomenon of interest, and subsequently committing to an (informed) decision on the basis of accumulated evidence. In this setting, active sensing…
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…
There is substantial variability in the expectations that communication partners bring into interactions, creating the potential for misunderstandings. To directly probe these gaps and our ability to overcome them, we propose a…
We show that strongly monotone systems of ordinary differential equations which have a certain translation-invariance property are so that all solutions converge to a unique equilibrium. The result may be seen as a dual of a well-known…
We prove that the quantum relative entropy decreases monotonically under the application of any positive trace-preserving linear map, for underlying separable Hilbert spaces. This answers in the affirmative a natural question that has been…
How do decisions change with the economic environment and with time? This paper studies general nonstationary stopping problems and provides the methodological tools to answer these questions. First, we identify conditions that ensure a…
This paper analyses how risk-taking behaviour and preferences over consumption rank can emerge as a neutrally stable equilibrium when individuals face an anti-coordination task. If in an otherwise homogeneous society information about…
We propose two solution concepts for matchings under preferences: robustness and near stability. The former strengthens while the latter relaxes the classic definition of stability by Gale and Shapley (1962). Informally speaking, robustness…
We study properties related to relevance in non-monotonic consequence relations obtained by systems of structured argumentation. Relevance desiderata concern the robustness of a consequence relation under the addition of irrelevant…
Human language defines the most complex outcomes of evolution. The emergence of such an elaborated form of communication allowed humans to create extremely structured societies and manage symbols at different levels including, among others,…
Microreversibility rules the fluctuations of the currents flowing across open systems in nonequilibrium (or equilibrium) steady states. As a consequence, the statistical cumulants of the currents and their response coefficients at arbitrary…
In recommendation settings, there is an apparent trade-off between the goals of accuracy (to recommend items a user is most likely to want) and diversity (to recommend items representing a range of categories). As such, real-world…
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…
The principle that rational agents should maximize expected utility or choiceworthiness is intuitively plausible in many ordinary cases of decision-making under uncertainty. But it is less plausible in cases of extreme, low-probability risk…