PREFERENCES UNDER IGNORANCE
نویسندگان
چکیده
منابع مشابه
Preferences under Ignorance
A decision maker (DM) makes choices from different sets of alternatives. The DM is initially fully ignorant of the payoff associated to each alternative, and learns these payoffs only after a large number of choices have been made. We show that, in the presence of an outside option once payoffs are learned, the optimal choice rule from sets of alternatives is one that is as if the DM had strict...
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We study the problem of making decisions under partial ignorance, or partially quantified uncertainty. This problem arises in many applications in robotics and AI, and it has not yet got the attention it deserves. The traditional decision rules of decision under risk and under strict uncertainty (or complete ignorance) can naturally be extended to the more general case of decision under partial...
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Much of cognition allows us to make sense of things by explaining observable evidence in terms of unobservable explanations, such as category memberships and hidden causes. Yet we must often make such explanatory inferences with incomplete evidence, where we are ignorant about some relevant facts or diagnostic features. In seven experiments, we studied how people make explanatory inferences und...
متن کاملDecision making under ignorance
Ignorance is an extreme form of uncertainty. In most narrow and technical sense, it means inability to assign a meaningful probability to the phenomena of interest. In more general sense, the state of ignorance is the result of the absence of knowledge about structural factors that influence the issues, the lack of reliable information or inability to completely determine the space of alternati...
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ژورنال
عنوان ژورنال: International Economic Review
سال: 2018
ISSN: 0020-6598
DOI: 10.1111/iere.12351