Analogy in Decision-Making
In the context of decision making under uncertainty, we formalize the concept of analogy: an analogy between two decision problems is a mapping that transforms one problem into the other while preserving the problem's structure. We identify the basic structure of a decision problem, and provide a representation of the mappings that preserve this structure. We then consider decision makers who use multiple analogies. Our main results are a representation theorem for "aggregators" of analogies satisfying certain minimal requirements, and the identification of preferences emerging from analogical reasoning. We show that a large variety of multiple-prior preferences can be thought of as emerging from analogical reasoning.
|Date of creation:||2009|
|Date of revision:|
|Contact details of provider:|| Postal: CP 6128, Succ. Centre-Ville, Montréal, Québec, H3C 3J7|
Phone: (514) 343-6540
Fax: (514) 343-5831
Web page: http://www.sceco.umontreal.ca
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Amarante, Massimiliano, 2009. "Foundations of neo-Bayesian statistics," Journal of Economic Theory, Elsevier, vol. 144(5), pages 2146-2173, September.
- Itzhak Gilboa & David Schmeidler, 1989.
"Maxmin Expected Utility with Non-Unique Prior,"
- Ghirardato, Paolo & Maccheroni, Fabio & Marinacci, Massimo, 2004. "Differentiating ambiguity and ambiguity attitude," Journal of Economic Theory, Elsevier, vol. 118(2), pages 133-173, October.
- Chambers, Christopher P., 2007. "Ordinal aggregation and quantiles," Journal of Economic Theory, Elsevier, vol. 137(1), pages 416-431, November.
When requesting a correction, please mention this item's handle: RePEc:mtl:montde:2009-13. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sharon BREWER)
If references are entirely missing, you can add them using this form.