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If uncertainty is modelled by a probability measure, decisions are typically made by choosing the option with the highest expected utility. If an imprecise probability model is used instead, this decision rule can be generalised in several…

Artificial Intelligence · Computer Science 2020-03-27 Jasper De Bock

In financial markets valuable information is rarely circulated homogeneously, because of time required for information to spread. However, advances in communication technology means that the 'lifetime' of important information is typically…

Pricing of Securities · Quantitative Finance 2011-08-05 Dorje C. Brody , Yan Tai Law

The aim of Inverse Reinforcement Learning (IRL) is to infer a reward function $R$ from a policy $\pi$. This problem is difficult, for several reasons. First of all, there are typically multiple reward functions which are compatible with a…

Machine Learning · Computer Science 2024-11-26 Joar Skalse , Alessandro Abate

Recently, artificial intelligence and machine learning in general have demonstrated remarkable performances in many tasks, from image processing to natural language processing, especially with the advent of deep learning. Along with…

Machine Learning · Computer Science 2020-10-23 Erico Tjoa , Cuntai Guan

Turning pass-through network architectures into iterative ones, which use their own output as input, is a well-known approach for boosting performance. In this paper, we argue that such architectures offer an additional benefit: The…

Artificial Intelligence · Computer Science 2025-05-27 Nikita Durasov , Doruk Oner , Jonathan Donier , Hieu Le , Pascal Fua

Explainability and uncertainty quantification are key to trustable artificial intelligence. However, the reasoning behind uncertainty estimates is generally left unexplained. Identifying the drivers of uncertainty complements explanations…

Machine Learning · Computer Science 2025-05-13 Pascal Iversen , Simon Witzke , Katharina Baum , Bernhard Y. Renard

Decisions are often based on imprecise, uncertain or vague information. Likewise, the consequences of an action are often equally unpredictable, thus putting the decision maker into a twofold jeopardy. Assuming that the effects of an action…

General Economics · Economics 2022-05-03 Stefan Rass , Sandra König , Stefan Schauer

A straightforward application of semi-supervised machine learning to the problem of treatment effect estimation would be to consider data as "unlabeled" if treatment assignment and covariates are observed but outcomes are unobserved.…

Methodology · Statistics 2020-09-15 Andrew Herren , P. Richard Hahn

Distributional reinforcement learning improves performance by capturing environmental stochasticity, but a comprehensive theoretical understanding of its effectiveness remains elusive. In addition, the intractable element of the infinite…

Machine Learning · Computer Science 2025-05-14 Taehyun Cho , Seungyub Han , Seokhun Ju , Dohyeong Kim , Kyungjae Lee , Jungwoo Lee

This paper advocates the usefulness of new theories of uncertainty for the purpose of modeling some facets of uncertain knowledge, especially vagueness, in AI. It can be viewed as a partial reply to Cheeseman's (among others) defense of…

Artificial Intelligence · Computer Science 2013-04-10 Didier Dubois , Henri Prade

The principle of maximum entropy is a broadly applicable technique for computing a distribution with the least amount of information possible while constrained to match empirically estimated feature expectations. However, in many real-world…

Machine Learning · Computer Science 2022-08-16 Kenneth Bogert , Yikang Gui , Prashant Doshi

Tree ensemble models like random forests and gradient boosting machines are widely used in machine learning due to their excellent predictive performance. However, a high-performance ensemble consisting of a large number of decision trees…

Machine Learning · Statistics 2024-10-28 Zebin Yang , Agus Sudjianto , Xiaoming Li , Aijun Zhang

The von Neumann-Morgenstern (VNM) utility theorem shows that under certain axioms of rationality, decision-making is reduced to maximizing the expectation of some utility function. We extend these axioms to increasingly structured…

Artificial Intelligence · Computer Science 2022-06-29 Mehran Shakerinava , Siamak Ravanbakhsh

Artificial Intelligence models are becoming increasingly more powerful and accurate, supporting or even replacing humans' decision making. But with increased power and accuracy also comes higher complexity, making it hard for users to…

Artificial Intelligence · Computer Science 2019-07-10 Vivian S. Silva , André Freitas , Siegfried Handschuh

We study the problem of inverse reinforcement learning (IRL), where the learning agent recovers a reward function using expert demonstrations. Most of the existing IRL techniques make the often unrealistic assumption that the agent has…

Machine Learning · Computer Science 2021-12-20 Franck Djeumou , Murat Cubuktepe , Craig Lennon , Ufuk Topcu

AI agents are commonly trained with large datasets of demonstrations of human behavior. However, not all behaviors are equally safe or desirable. Desired characteristics for an AI agent can be expressed by assigning desirability scores,…

Machine Learning · Computer Science 2024-05-08 Tim Franzmeyer , Edith Elkind , Philip Torr , Jakob Foerster , Joao Henriques

It is known, but perhaps not well-known, that when the mortality is assumed to be of Gompertz-Makeham-type, the expected remaining life-length and the commutation functions used for calculating the expected values of various types of life…

Probability · Mathematics 2009-03-02 Andreas Nordvall Lagerås

Knowledge constitutes the accumulated understanding and experience that humans use to gain insight into the world. In deep learning, prior knowledge is essential for mitigating shortcomings of data-driven models, such as data dependence,…

Machine Learning · Computer Science 2023-07-04 Hao Xu , Yuntian Chen , Dongxiao Zhang

It is well known that quantifying uncertainty in the action-value estimates is crucial for efficient exploration in reinforcement learning. Ensemble sampling offers a relatively computationally tractable way of doing this using randomized…

Machine Learning · Computer Science 2020-03-23 Tian Tan , Zhihan Xiong , Vikranth R. Dwaracherla

A decision maker's utility depends on her action $a\in A \subset \mathbb{R}^d$ and the payoff relevant state of the world $\theta\in \Theta$. One can define the value of acquiring new information as the difference between the maximum…

Theoretical Economics · Economics 2021-05-04 Farzad Pourbabaee
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