Utility in case-based decision theory

• 成果类型: Article
• 署名作者: Gilboa, I; Schmeidler, D; Wakker, PP
• 署名单位: Tel Aviv University; University System of Ohio; Ohio State University; University of Amsterdam
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1006/jeth.2001.2858
• 发表日期: 2002
• 页码: 483-502
• 关键词: Decision under uncertainty; case-based decision theory

摘要

This paper provides two axiomatic derivations of a case-based decision rule. Each axiomatization shows that, if preference orders over available acts in various contexts satisfy certain consistency requirements, then these orders can be numerically represented by maximization of a similarity-weighted utility function. In each axiomatization, both the similarity function and the utility function are simultaneously derived from preferences, and the axiomatic derivation also suggests a way to elicit these theoretical concepts from in-principle observable preferences. The two axiomatizations differ in the type of decisions that they assume as data. (C) 2002 Elsevier Science (USA).