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A decision maker faces a decision problem, or a game against nature. For each probability distribution over the state of the world (nature`s strategies), she has a weak order over her acts (pure strategies). We formulate conditions on these weak orders guaranteeing that they can be jointly...
Persistent link: https://www.econbiz.de/10005675378
This note provides an axiomatic derivation of a case-based decision rule. It shows that, if preferences orders over available acts in various contexts satisfy certain consistency requirements, then these orders can be numerically represented by maximizationof a similarity-weighted utility function.
Persistent link: https://www.econbiz.de/10005675382
A predictor is asked to rank eventualities according to their plausibility, based on past cases. We assume that she can form a ranking given any memory that consists of finitely many past cases. Mild consistency requirements on these rankings imply that they have a numerical representation via a...
Persistent link: https://www.econbiz.de/10005675418
Persistent link: https://www.econbiz.de/10005412097
The art of rhetoric may be defined as changing other people`s minds (opinions, beliefs) without providing them new information. One technique heavily used by rhetoric employs analogies. Using analogies, one may draw the listener`s attention to similarities between cases and to re-organize...
Persistent link: https://www.econbiz.de/10005647208
A predictor is asked to rank eventualities according to their plausibility, based on past cases. We assume that she can form a ranking given any memory that consists of repetitions of past cases.
Persistent link: https://www.econbiz.de/10005647231
Prediction is based on past cases. We assume that a predictor can rank eventualities according to their plausibility given any memory that consists of repetitions of past cases. In a companion paper, we show that under mild consistency requirements, these rankings can be represented by numerical...
Persistent link: https://www.econbiz.de/10005647252
Several authors have indicated a contradiction between consistent aggregation of subjective beliefs and tastes, and a Pareto condition. We argue that the Pareto condition that implies the contradiction is not compelling. Society should not necessarily endorse a unanimous choice when it is based...
Persistent link: https://www.econbiz.de/10005647314
Persistent link: https://www.econbiz.de/10008765355
The art of rhetoric may be defined as changing other people’s minds (opinions, beliefs) without providing them new information. One technique heavily used by rhetoric employs analogies. Using analogies, one may draw the listener’s attention to similarities between cases and to re-organize...
Persistent link: https://www.econbiz.de/10010851430