Showing 1 - 10 of 640
This paper compares the models of Arrow and Debreu [1954] and Sraffa [1960], and concludes that (1) the models are informationally distinct conceptions of a capitalist economy, (2) they support radically distinct - though complete and entirely correct - theories of value, (3) the prices in the...
Persistent link: https://www.econbiz.de/10010286398
defining unawareness and knowledge in terms of preferences over acts in unawareness structures and showing their equivalence to … the epistemic notions of unawareness and knowledge, we try to build a bridge between decision theory and epistemic logic …
Persistent link: https://www.econbiz.de/10010282084
Recent studies on decision analytics frequently refer to the topic of behavioral decision making (BDM), which focuses … on behavioral components of decision analytics. This paper provides a critical review of literature for re-examining the … relations between BDM and classical decision theories in both normative and descriptive reviews. We attempt to capture several …
Persistent link: https://www.econbiz.de/10013201174
Recent research is exploring the case for cognitive or post-decision dissonance using the free-choice paradigm of Brehm … choice against a different alternative item. This tendency is interpreted as evidence for cognitive or post-decision … evidence of post-decision dissonance after a choice between items where one was viewed as more attractive than the other, but …
Persistent link: https://www.econbiz.de/10010285567
In this article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...
Persistent link: https://www.econbiz.de/10010294006
of acts: functions from states to outcomes over which the decision maker (DM) has preferences. Real problems do not come …Contemporary approaches to decision making describe a decision problem by sets of states and outcomes, and a rich set … decision making, in which the primitive objects of choice are syntactic programs. We show that if the DM's preference relation …
Persistent link: https://www.econbiz.de/10010294014
In this article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...
Persistent link: https://www.econbiz.de/10010294849
A belief operator derived from preferences is presented. It generalizes ‘belief with probability1’ to incomplete … preferences and satisfies minimal requirements for belief operators under weak conditions. …
Persistent link: https://www.econbiz.de/10010284299
We show how different kinds of belief operators derived from preferences can be defined in terms an accessibility …
Persistent link: https://www.econbiz.de/10010284443
which the decision maker has to make some effort in order to avoid mistakes when implementing any desired outcome. The … disutility of this effort enters the decision maker's goal function in an additively separable way. A particular disutility …
Persistent link: https://www.econbiz.de/10010335088