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Case-Based Decision Theory (CBDT) postulates that decision making under uncertainty is based on analogies to past cases. In its original version, it suggests that each of the available acts is ranked according to its own performance in similar decision problems encountered in the past. <p>The...</p>
Persistent link: https://www.econbiz.de/10005596682
A semiorder can be thought of as a binary relation P for which there is a utility "u" representing it in the following sense: xPy iff u(x)-u(y) 1. We argue that weak orders (for which indifference is transitive) can not be considered a successful approximation of semiorders; for instance, a...
Persistent link: https://www.econbiz.de/10005596731