Related papers: Recursive Preferences and Ambiguity Attitudes

We consider portfolio selection under nonparametric $\alpha$-maxmin ambiguity in the neighbourhood of a reference distribution. We show strict concavity of the portfolio problem under ambiguity aversion. Implied demand functions are…

The use of aggregates in recursion enables efficient and scalable support for a wide range of BigData algorithms, including those used in graph applications, KDD applications, and ML applications, which have proven difficult to be expressed…

We extend well-known comparative results under expected utility to models of non-expected utility by providing novel conditions on local utility functions. We illustrate how our results parallel, and are distinct from, existing results for…

We generalize the notion of consequence relation standard in abstract treatments of logic to accommodate intuitions of relevance. The guiding idea follows the \emph{use criterion}, according to which in order for some premises to have some…

Ambiguity is inherently present in many machine learning tasks, but especially for sequential models seldom accounted for, as most only output a single prediction. In this work we propose an extension of the Multiple Hypothesis Prediction…

Standard models of multi-agent modal logic do not capture the fact that information is often ambiguous, and may be interpreted in different ways by different agents. We propose a framework that can model this, and consider different…

For incomplete preference relations that are represented by multiple priors and/or multiple -- possibly multivariate -- utility functions, we define a certainty equivalent as well as the utility buy and sell prices and indifference price…

This work considers reasons for and implications of discarding the assumption of transitivity, which (transitivity) is the fundamental postulate in the utility theory of Von Neumann and Morgenstern, the adiabatic accessibility principle of…

Ambiguity and ambiguity aversion have been widely studied in decision theory and economics both at a theoretical and an experimental level. After Ellsberg's seminal studies challenging subjective expected utility theory (SEUT), several…

Deduction is the one of the major forms of inferences and commonly used in formal logic. This kind of inference has the feature of monotonicity, which can be problematic. There are different types of inferences that are not monotonic, e.g.…

We introduce a notion of substitutability for correspondences and establish a monotone comparative static result, unifying results such as the inverse isotonicity of M-matrices, Berry, Gandhi and Haile's identification of demand systems,…

Pairwise comparison matrices have received substantial attention in a variety of applications, especially in rank aggregation, the task of flattening items into a one-dimensional (and thus transitive) ranking. However, non-transitive…

Background: Confirmation bias is the tendency to acquire or evaluate new information in a way that is consistent with one's preexisting beliefs. It is omnipresent in psychology, economics, and even scientific practices. Prior theoretical…

We introduce an axiomatic approach to entropies and relative entropies that relies only on minimal information-theoretic axioms, namely monotonicity under mixing and data-processing as well as additivity for product distributions. We find…

Recommender systems rely heavily on user feedback to learn effective user and item representations. Despite their widespread adoption, limited attention has been given to the uncertainty inherent in the feedback used to train these systems.…

Natural language contexts display logical regularities with respect to substitutions of related concepts: these are captured in a functional order-theoretic property called monotonicity. For a certain class of NLI problems where the…

This paper investigates the equilibrium portfolio selection for smooth ambiguity preferences in a continuous-time market. The investor is uncertain about the risky asset's drift term and updates the subjective belief according to the…

Two classical results characterizing regularity of a convergence space in terms of continuous extensions of maps on one hand, and in terms of continuity of limits for the continuous convergence on the other, are extended to…

Nonmonotonic reasoning is a pattern of reasoning that allows an agent to make and retract (tentative) conclusions from inconclusive evidence. This paper gives a possible-worlds interpretation of the nonmonotonic reasoning problem based on…

We consider methods for aggregating preferences that are based on the resolution of discrete optimization problems. The preferences are represented by arbitrary binary relations (possibly weighted) or incomplete paired comparison matrices.…