2022/04/15 by Arne Decadt, Decadt, Arne, Alexander Erreygers +5
Decision Sciences · Economics, Econometrics and Finance · #Artificial Intelligence (cs.AI) #Capital Investment and Risk Analysis #Decision-Making and Behavioral Economics #Economic and Environmental Valuation #FOS: Computer and information sciences #FOS: Mathematics #Probability (math.PR)
paper · pdf · doi:10.48550/arxiv.2204.07428
openalex publication_date 2022/04/15 · openalex created_date 2022/04/20 · openalex updated_date 2026/07/28
Given information about which options a decision-maker definitely rejects from given finite sets of options, we study the implications for decision-making with E-admissibility. This means that from any finite set of options, we reject those options that no probability mass function compatible with the given information gives the highest expected utility. We use the mathematical framework of choice functions to specify choices and rejections, and specify the available information in the form of conditions on such functions. We characterise the most conservative extension of the given information to a choice function that makes choices based on E-admissibility, and provide an algorithm that computes this extension by solving linear feasibility problems.