Interim efficiency with MEU-preferences

Interim efficiency with MEU-preferences

Recently Kajii and Ui [17] proposed to characterize interim efficient allocations in an exchange economy under asymmetric information when uncertainty is represented by multiple posteriors. When agents have Bewley’s incomplete preferences, Kajii and Ui [17] proposed a necessary and sufficient condition on the set of posteriors. However, when agents have Gilboa–Schmeidler’s MaxMin expected utili...

EPGE Economic Essays INTERIM EFFICIENCY WITH MEU-PREFERENCES

Recently Kajii and Ui (2008) proposed to characterize interim efficient allocations in an exchange economy under asymmetric information when uncertainty is represented by multiple priors and posteriors. When agents have Bewley’s incomplete preferences, Kajii and Ui (2008) proposed a necessary and sufficient condition on the set of posteriors. However, when agents have Gilboa–Schmeidler’s MaxMin...

A Characterization of Interim Efficiency with Public Goods Author(s):

A Characterization of Interim Efficiency with Public Goods

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Lifted MEU by Weighted Model Counting

Recent work in the field of probabilistic inference demonstrated the efficiency of weighted model counting (WMC) engines for exact inference in propositional and, very recently, first order models. To date, these methods have not been applied to decision making models, propositional or first order, such as influence diagrams, and Markov decision networks (MDN). In this paper we show how this te...