Related papers: Recursive Preferences and Ambiguity Attitudes
We study consumption dependence in the context of random utility and repeated choice. We show that, in the presence of consumption dependence, the random utility model is a misspecified model of repeated rational choice. This…
Diversification represents the idea of choosing variety over uniformity. Within the theory of choice, desirability of diversification is axiomatized as preference for a convex combination of choices that are equivalently ranked. This…
The quality of rationales is essential in the reasoning capabilities of language models. Rationales not only enhance reasoning performance in complex natural language tasks but also justify model decisions. However, obtaining impeccable…
Consensus control of multiagent systems arises in various robotic applications such as rendezvous and formation control. For example, to compute the control inputs of individual agents, the difference in the positions in aligned coordinate…
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…
Preferences for mixing can reveal ambiguity perception and attitude on a single event. The validity of the approach is discussed for multiple preference classes including maxmin, maxmax, variational, and smooth second-order preferences. An…
Ambiguity-averse decision makers typically dislike not only the presence of ambiguous events but also their increase, contrary to what standard ambiguity models predict. We axiomatically study such a decision maker. She avoids ex ante…
The expectation is an example of a descriptive statistic that is monotone with respect to stochastic dominance, and additive for sums of independent random variables. We provide a complete characterization of such statistics, and explore a…
The ideas about decision making under ignorance in economics are combined with the ideas about uncertainty representation in computer science. The combination sheds new light on the question of how artificial agents can act in a dynamically…
We study non-rectangular robust Markov decision processes under the average-reward criterion, where the ambiguity set couples transition probabilities across states and the adversary commits to a stationary kernel for the entire horizon. We…
Multimodal large language models (MLLMs) must resolve conflicts when different modalities provide contradictory information, a process we term modality following. Prior work measured this behavior only with coarse dataset-level statistics,…
Actual individual preferences are neither complete (=total) nor antisymmetric in general, so that at least every quasi-order must be an admissible input to a satisfactory choice rule. It is argued that the traditional notion of…
A fundamental question asked in modal logic is whether a given theory is consistent. But consistent with what? A typical way to address this question identifies a choice of background knowledge axioms (say, S4, D, etc.) and then shows the…
This paper proposes a model of choice via agentic artificial intelligence (AI). A key feature is that the AI may misinterpret a menu before recommending what to choose. A single acyclicity condition guarantees that there is a monotonic…
The paper adresses the problem of reasoning with ambiguities. Semantic representations are presented that leave scope relations between quantifiers and/or other operators unspecified. Truth conditions are provided for these representations…
This paper studies preference aggregation under ambiguity when agents have incomplete preference relations due to imprecise beliefs. We introduce the "dual" of the Pareto principle, which respects unanimity among individuals, including…
Several different fairness notions have been introduced in the context of fair allocation of goods. In this manuscript, we compare between some fairness notions that are used in settings in which agents have arbitrary (perhaps unequal)…
We combine forward investment performance processes and ambiguity averse portfolio selection. We introduce the notion of robust forward criteria which addresses the issues of ambiguity in model specification and in preferences and…
This paper presents four theorems that connect continuity postulates in mathematical economics to solvability axioms in mathematical psychology, and ranks them under alternative supplementary assumptions. Theorem 1 connects notions of…
I introduce novel preference formulations which capture aversion to ambiguity about unknown and potentially time-varying volatility. I compare these preferences with Gilboa and Schmeidler's maxmin expected utility as well as variational…