Learning and Discovery
We formulate a dynamic framework for an individual decision-maker within which discovery of previously unconsidered propositions is possible. Using a standard game-theoretic representation of the state space as a tree structure generated by the actions of agents (including acts of nature), we show how unawareness of propositions can be represented by a coarsening of the state space. Furthermore we develop a semantics rich enough to describe the individual's awareness that currently undiscovered propositions may be discovered in the future. Introducing probability concepts, we derive a representation of ambiguity in terms of multiple priors, reflecting implicit beliefs about undiscovered proposition, and derive conditions for the special case in which standard Bayesian learning may be applied to a subset of unambiguous propositions. Finally, we consider exploration strategies appropriate to the context of discovery, comparing and contrasting them with learning strategies appropriate to the context of justification, and sketch applications to scientific research and entrepreneurship.
|Date of creation:||Jul 2005|
|Contact details of provider:|| Postal: Colin Clark Building, no 39, St. Lucia, Qld. 4072|
Phone: +61 7 3365 6601
Fax: +61 7 3365 6601
Web page: http://www.uq.edu.au/rsmg/index.htm
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.:
- Itzhak Gilboa & David Schmeidler, 1992.
"Case-Based Decision Theory,"
994, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Karni, E. & Safra, Z., 1988.
"Behaviorally Consistent Optimal Stopping Rules,"
9-88, Tel Aviv.
- Edi Karni, 2005.
"Subjective Expected Utility Theory without States of the World,"
Economics Working Paper Archive
523, The Johns Hopkins University,Department of Economics.
- Karni, Edi, 2006. "Subjective expected utility theory without states of the world," Journal of Mathematical Economics, Elsevier, vol. 42(3), pages 325-342, June.
- Jurgen Eichberger & Simon Grant & David Kelsey, 2006.
"Updating Choquet Beliefs,"
0607, Exeter University, Department of Economics.
- Hart, Sergiu & Heifetz, Aviad & Samet, Dov, 1996.
""Knowing Whether," "Knowing That," and The Cardinality of State Spaces,"
Journal of Economic Theory,
Elsevier, vol. 70(1), pages 249-256, July.
- Sergiu Hart & Aviad Heifetz & Dov Samet, 1994. "'Knowing Whether', 'Knowing That' and the Cardinality of State Spaces," Game Theory and Information 9404002, EconWPA.
- HEIFETZ, Aviad & MEIER, Martin & SCHIPPER, Burkhard C., 2004.
CORE Discussion Papers
2004059, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Heifetz, Aviad & Meier, Martin & Schipper, Burkhard C., 2005. "Interactive Unawareness," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 52, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Alain Chateauneuf & Jürgen Eichberger & Simon Grant, 2007.
"Choice under uncertainty with the best and worst in mind: neo-additive capacities,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
- Chateauneuf, Alain & Eichberger, Jurgen & Grant, Simon, 2007. "Choice under uncertainty with the best and worst in mind: Neo-additive capacities," Journal of Economic Theory, Elsevier, vol. 137(1), pages 538-567, November.
- Chateauneuf, Alain & Eichberger, Jürgen & Grant, Simon, 2003. "Choice under uncertainty with the best and worst in mind : neo-additive capacities," Papers 03-10, Sonderforschungsbreich 504.
- Grant, Simon & Chateauneuf, A. & Eichberger, J., 2002. "Choice under Uncertainty with the Best and Worst in Mind: Neo-additive Capacities," Working Papers 2002-10, Rice University, Department of Economics.
- Chateauneuf, Alain & Eichberger, Jürgen & Grant, Simon, 2003. "Choice under Uncertainty with the Best and Worst in Mind: Neo-additive Capacities," Sonderforschungsbereich 504 Publications 03-10, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
- Modica, Salvatore & Rustichini, Aldo, 1999. "Unawareness and Partitional Information Structures," Games and Economic Behavior, Elsevier, vol. 27(2), pages 265-298, May.
- Dekel, Eddie, 1986. "An axiomatic characterization of preferences under uncertainty: Weakening the independence axiom," Journal of Economic Theory, Elsevier, vol. 40(2), pages 304-318, December.
- Kahneman, Daniel & Tversky, Amos, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Itzhak Gilboa & David Schmeidler, 1989.
"Maxmin Expected Utility with Non-Unique Prior,"
- Yaari, Menahem E, 1987. "The Dual Theory of Choice under Risk," Econometrica, Econometric Society, vol. 55(1), pages 95-115, January.
When requesting a correction, please mention this item's handle: RePEc:rsm:riskun:r05_7. 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: (David Adamson)
If references are entirely missing, you can add them using this form.