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We present a model of inductive inference that includes, as special cases, Bayesian reasoning, case-based reasoning, and rule-based reasoning. This unified framework allows us to examine how the various modes of inductive inference can be combined and how their relative weights change...
Persistent link: https://www.econbiz.de/10010678870
Experts are asked to provide their advice in a situation of uncertainty. They adopt the decision makerʼs utility function, but each has a potentially different set of prior probabilities, and so does the decision maker. The decision maker and the experts maximize the minimal expected utility...
Persistent link: https://www.econbiz.de/10011042915
We suggest a model in which theories are ranked given various databases. Certain axioms on such rankings imply a numerical representation that is the sum of the log-likelihood of the theory and a fixed number for each theory, which may be interpreted as a measure of its complexity. This additive...
Persistent link: https://www.econbiz.de/10008860962