Statistical decision theory axiomatically assumes that the relative desirability of different options that humans perceive is well described by assigning them optionspecific scalar utility functions. However, this assumption is refuted by observed human behavior, including studies wherein preferences have been shown to change systematically simply through variation in the set of choice options ...

wetlands as a situ for the growth of native plants, as a habitat for certain species of fish and aquatic birds, and because of their potential economic, cultural and recreational services, are valuable heritage so their protection and conservation is very essential. mostly due to the absence of wetlands services’ valuation, lack of special regulations, and lack of guarantee for these properties...

In the present paper, we introduce the fuzzy Nehring axiom, fuzzy Sen axiom and weaker form of the weak fuzzycongruence axiom. We establish interrelations between these axioms and their relation with fuzzy Chernoff axiom. Weexpress full rationality of a fuzzy choice function using these axioms along with the fuzzy Chernoff axiom.

Choice behavior is rational if it based on the maximization of some context-independent preference relation. This study re-examines questions implementation theory in a setting where players’ choice need not be and coalition formation must taken into account. Our model implies that with non-rational players, groups greatly affects design exercise. As by-product, we also propose notion behaviora...

The two approaches both have fairly straightforward interpretations in choices with certainty. The internal consistency approach has been much used in the theory of 'revealed preference', with various 'axioms' of revealed preference serving as conditions of internal consistency of choice (see Samuelson (1947))) In much of modern economic theory, 'rational choice' is seen as no more and no less ...

Decision theory is the analysis of the behavior of an individual facing nonstrategic uncertainty—that is, uncertainty that is due to what we term “Nature” (a stochastic natural event such as a coin flip, seasonal crop loss, personal illness, and the like) or, if other individuals are involved, their behavior is treated as a statistical distribution known to the decision maker. Decision theory d...

This lecture is an introduction to decision theory, which gives tools for making rational choices in face of uncertainty. It is useful in all kinds of disciplines from electrical engineering to economics. In computer science, a compelling setting to consider is an autonomous vehicle or robot navigating in a new environment. It may have some prior notions about the environment but inevitably it ...

Herbert Gintis and Dirk Helbing have developed a highly impressive, over-arching theoretical framework, using rational choice theory, general equilibrium theory, and game theory. They extend this to cover “moral, social and other-regarding values,” plus social norms, culture, and institutions. While accepting the value of their contribution, I argue that there is a tension within their work bet...