Related papers: The Algebra of Utility Inference
We consider the problem of rationalizing choice data by a preference satisfying an arbitrary collection of invariance axioms. Examples of such axioms include quasilinearity, homotheticity, independence-type axioms for mixture spaces,…
When it comes to structural estimation of risk preferences from data on choices, random utility models have long been one of the standard research tools in economics. A recent literature has challenged these models, pointing out some…
A dynamic model of collective consumption and saving decisions made by a finite number of agents with constant but different discount rates is developed. Collective utility is a weighted sum of individual utilities with time-varying utility…
This paper studies preference aggregation under risk. In our model, each agent has an incomplete preference relation represented by a set of expected utility functions. The classical Pareto principle is silent on agreement involving…
This paper introduces conceptual relations that synthesize utilitarian and logical concepts, extending the logics of preference of Rescher. We define first, in the context of a possible worlds model, constraint-dependent measures that…
The theory of classical realizability is a framework in which we can develop the proof-program correspondence. Using this framework, we show how to transform into programs the proofs in classical analysis with dependent choice and the…
Participatory budgeting refers to the practice of allocating public resources by collecting and aggregating individual preferences. Most existing studies in this field often assume an additive utility function, where each individual holds a…
We develop a nonparametric approach to identify and estimate consumer preferences and unobserved heterogeneity under nonlinear price schedules. Leveraging variation across multiple price schedules, we show that both the utility function and…
This paper studies preference aggregation under uncertainty in the multi-profile framework and characterizes a new class of aggregation rules that address classical concerns about Harsanyi's (1955) utilitarian rules. Our aggregation rules,…
Reasoning about uncertainty is vital in many real-life autonomous systems. However, current state-of-the-art planning algorithms cannot either reason about uncertainty explicitly, or do so with a high computational burden. Here, we focus on…
Classical decision theory models behaviour in terms of utility maximisation where utilities represent rational preference relations over outcomes. However, empirical evidence and theoretical considerations suggest that we need to go beyond…
A major reason behind the success of probability calculus is that it possesses a number of valuable tools, which are based on the notion of probabilistic independence. In this paper, I identify a notion of logical independence that makes…
Reynold's parametricity theory captures the property that parametrically polymorphic functions behave uniformly: they produce related results on related instantiations. In dependently-typed programming languages, such relations and…
Beginning with a simple semantics for propositions, based on counting observations, it is shown that probabilistic and fuzzy logic correspond to two different heuristic assumptions regarding the combination of propositions whose evidence…
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…
Modeling the preferences of agents over a set of alternatives is a principal concern in many areas. The dominant approach has been to find a single reward/utility function with the property that alternatives yielding higher rewards are…
Kolmogorov's first axiom of probability is probability takes values between 0 and 1; however, in Cox's derivation of probability having a maximum value of unity is arbitrary since he derives probability as a tool to rank degrees of…
Under the assumption of (positive) homogeneity (PH in the sequel) of the corresponding utility functions, we construct polynomial time algorithms for the weak separability, the collective consumption behavior and some related problems.…
This paper is devoted to revealed preference theory and its applications to testing economic data for consistency with utility maximization hypothesis, construction of index numbers, and forecasting. The quantitative measures of…
Utilitarian algorithm configuration identifies a parameter setting for a given algorithm that maximizes a user's utility. Utility functions offer a theoretically well-grounded approach to optimizing decision-making under uncertainty and are…