Related papers: Posterior-Separable Costs and Menu Preferences
For three natural classes of dynamic decision problems; 1. additively separable problems, 2. discounted problems, and 3. discounted problems for a fixed discount factor; we provide necessary and sufficient conditions for one sequential…
The desirable gambles framework provides a foundational approach to imprecise probability theory but relies heavily on linear utility assumptions. This paper introduces function-coherent gambles, a generalization that accommodates…
We introduce and study the property of orthogonal independence, a restricted additivity axiom applying when alternatives are orthogonal. The axiom requires that the preference for one marginal change over another should be maintained after…
We introduce a model-free preference under ambiguity, as a primitive trait of behavior, which we apply once as well as repeatedly. Its single and double application yield simple, easily interpretable definitions of ambiguity aversion and…
We consider a practically motivated variant of the canonical online fair allocation problem: a decision-maker has a budget of perishable resources to allocate over a fixed number of rounds. Each round sees a random number of arrivals, and…
Bayesian observer and actor models have provided normative explanations for many behavioral phenomena in perception, sensorimotor control, and other areas of cognitive science and neuroscience. They attribute behavioral variability and…
This work focuses on the indifference pricing of American call option underlying a non-traded stock, which may be partially hedgeable by another traded stock. Under the exponential forward measure, the indifference price is formulated as a…
There is a growing body of work on sorting and selection in models other than the unit-cost comparison model. This work is the first treatment of a natural stochastic variant of the problem where the cost of comparing two elements is a…
Prioritized default reasoning has illustrated its rich expressiveness and flexibility in knowledge representation and reasoning. However, many important aspects of prioritized default reasoning have yet to be thoroughly explored. In this…
Addressing the large inefficiencies generated by the Deferred Acceptance (DA) mechanism requires priority violations, but which ones are justifiable? The leading approach is to ask individuals if they consent to waive their priority…
We study the effective front associated with first-order front propagations in two dimensions ($n=2$) in the periodic setting with continuous coefficients. Our main result says that that the boundary of the effective front is differentiable…
Given the family $P$ of all nonempty subsets of a set $U$ of alternatives, a choice over $U$ is a function $c \colon \Omega \to P$ such that $\Omega \subseteq P$ and $c(B) \subseteq B$ for all menus $B \in \Omega$. A choice is total if…
This paper presents a model of costly information acquisition where decision-makers can choose whether to elaborate information superficially or precisely. The former action is costless, while the latter entails a processing cost. Within…
We consider the fair division of indivisible items among $n$ agents with additive non-negative normalized valuations, with the goal of obtaining high value guarantees, that is, close to the proportional share for each agent. We prove that…
Defeasible logic is a rule-based nonmonotonic logic, with both strict and defeasible rules, and a priority relation on rules. We show that inference in the propositional form of the logic can be performed in linear time. This contrasts…
We study the problem of fair and efficient allocation of a set of indivisible chores to agents with additive cost functions. We consider the popular fairness notion of envy-freeness up to one good (EF1) with the efficiency notion of…
Recovering and distinguishing between the strict-preference, indifference and/or indecisiveness parts of a decision maker's preferences is a challenging task but also important for testing theory and conducting welfare analysis. This paper…
We consider active learning under incentive compatibility constraints. The main application of our results is to economic experiments, in which a learner seeks to infer the parameters of a subject's preferences: for example their attitudes…
Humans and animals have the ability to reason and make predictions about different courses of action at many time scales. In reinforcement learning, option models (Sutton, Precup \& Singh, 1999; Precup, 2000) provide the framework for this…
We present a simple and natural non-pricing mechanism for allocating divisible goods among strategic agents having lexicographic preferences. Our mechanism has favorable properties of incentive compatibility (strategy-proofness), Pareto…