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Decision Theory and Rationality

José Luis Bermúdez

Published in print:
2009
Published Online:
May 2009
ISBN:
9780199548026
eISBN:
9780191720246
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199548026.001.0001
Subject:
Philosophy, Philosophy of Mind, Philosophy of Science

The concept of rationality is a common thread through the human and social sciences — from political science to philosophy, from economics to sociology, from management science to decision analysis. ... More


Realism about Situations

Paul Weirich

in Realistic Decision Theory: Rules for Nonideal Agents in Nonideal Circumstances

Published in print:
2004
Published Online:
November 2004
ISBN:
9780195171259
eISBN:
9780199834976
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019517125X.003.0008
Subject:
Philosophy, Logic/Philosophy of Mathematics

In ideal decision problems, the preference ranking of options has a stable top, but in some realistic problems there is no top option or a top option’s position is not stable–the option does not stay ... More


PRELIMINARIES AND AGREEMENTS

Rolf Niedermeier

in Invitation to Fixed-Parameter Algorithms

Published in print:
2006
Published Online:
September 2007
ISBN:
9780198566076
eISBN:
9780191713910
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198566076.003.0002
Subject:
Mathematics, Combinatorics / Graph Theory / Discrete Mathematics

This chapter introduces the basic mathematical formalism and discusses concepts used throughout the book. Among other things, it looks at decision problems vs optimization problems, Random Access ... More


A Formal Theory of Contraction

Neil Tennant

in Changes of Mind: An Essay on Rational Belief Revision

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199655755
eISBN:
9780191742125
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199655755.003.0004
Subject:
Philosophy, Logic/Philosophy of Mathematics, Metaphysics/Epistemology

This is the heart of the formal theory. Mathematically rigorous definitions are provided of all the formal notions that have been gently introduced in the earlier discussion. The main data type of a ... More


 Getting the Message

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0012
Subject:
Economics and Finance, Microeconomics

This chapter explains how game theory treats problems of knowledge and information. The knowledge and possibility operators are defined and related to the idea of an information set in games. The ... More


Effective Playability in Arithmetical Games

Kumaraswamy Velupillai

in Computable Economics: The Arne Ryde Memorial Lectures

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198295273
eISBN:
9780191596988
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198295278.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics

Class games, called Arithmetical Games, are defined and recursion theoretic questions such as effective playability, diophantine complexity, etc. are posed and formally answered. In the process, ... More


Decision Theory

Jr. Henry E. Kyburg

in Science & Reason

Published in print:
1991
Published Online:
October 2011
ISBN:
9780195062533
eISBN:
9780199853038
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195062533.003.0014
Subject:
Philosophy, Philosophy of Science

Efforts to get scientific knowledge reap valuable knowledge about the world. It is often rewarding simply to know more, but a greater benefit of knowing more is that, knowing the future, one can make ... More


Liquidity Preference and Information

Sandeep Kapur

in Dimensions of Economic Theory and Policy: Essays for Anjan Mukherji

Published in print:
2011
Published Online:
September 2012
ISBN:
9780198073970
eISBN:
9780199081615
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198073970.003.0012
Subject:
Economics and Finance, Microeconomics

Due to the recent financial crisis, the issue of liquidity has emerged. Illiquidity reflects frictions in markets, and in asset markets can arise for various reasons. This chapter analyses how the ... More


Informational Value in Contraction

Isaac Levi

in Mild Contraction: Evaluating Loss of Information Due to Loss of Belief

Published in print:
2004
Published Online:
January 2005
ISBN:
9780199270705
eISBN:
9780191601774
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199270708.003.0004
Subject:
Philosophy, Metaphysics/Epistemology

The informational value involved in contraction is the subject of this chapter. Probability-based notions of informational value are introduced. It is argued that rational agents need not evaluate ... More


Rational Management of Risks

Paul Weirich

in Rational Responses to Risks

Published in print:
2020
Published Online:
August 2020
ISBN:
9780190089412
eISBN:
9780190089443
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190089412.003.0006
Subject:
Philosophy, Logic/Philosophy of Mathematics

The literature on expected utility formulates in two ways the principle to maximize expected utility. One version of the principle requires choices that literally maximize expected utility. The other ... More


The Value Functional: Applications

Patrick L. Anderson

in The Economics of Business Valuation: Towards a Value Functional Approach

Published in print:
2013
Published Online:
September 2013
ISBN:
9780804758307
eISBN:
9780804783224
Item type:
chapter
Publisher:
Stanford University Press
DOI:
10.11126/stanford/9780804758307.003.0016
Subject:
Economics and Finance, Financial Economics

This chapter demonstrates practical uses of the value functional approach in the estimation of the value of operating businesses. It includes a detailed discussion of state and control variables, a ... More


Optimization and Approximation

Cristopher Moore and Stephan Mertens

in The Nature of Computation

Published in print:
2011
Published Online:
December 2013
ISBN:
9780199233212
eISBN:
9780191775079
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199233212.003.0009
Subject:
Physics, Theoretical, Computational, and Statistical Physics

This chapter focuses on the relationships between decision problems and their optimisation versions. It shows that, for most problems, the optimal solution can be realised in polynomial time if and ... More


Needles in a Haystack: the Class NP

Cristopher Moore and Stephan Mertens

in The Nature of Computation

Published in print:
2011
Published Online:
December 2013
ISBN:
9780199233212
eISBN:
9780191775079
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199233212.003.0004
Subject:
Physics, Theoretical, Computational, and Statistical Physics

NP refers to a class of decision problems in which yes-instances are easy to verify. That is: a decision problem is in NP if, whenever the answer for a particular instance is ‘yes’, there is a simple ... More


Computing and Deciding

Giuseppe Primiero

in On the Foundations of Computing

Published in print:
2019
Published Online:
July 2020
ISBN:
9780198835646
eISBN:
9780191873232
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198835646.003.0003
Subject:
Mathematics, Computational Mathematics / Optimization, Logic / Computer Science / Mathematical Philosophy

This chapter illustrates the basic tools of computability theory, essential to the formulation of the decision problem and the definition of the notion of computable function.


Decision theory and Bayesian statistics

Andrew Gelman and Deborah Nolan

in Teaching Statistics: A Bag of Tricks

Published in print:
2017
Published Online:
September 2017
ISBN:
9780198785699
eISBN:
9780191827518
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198785699.003.0017
Subject:
Mathematics, Educational Mathematics

This chapter outlines some of our more effective demonstrations for teaching decision theory and Bayesian statistics. Our contribution here is in the tricks used to involve students; the ideas behind ... More


Discussion and Deliberation

Robert E. Goodin and Kai Spiekermann

in An Epistemic Theory of Democracy

Published in print:
2018
Published Online:
June 2018
ISBN:
9780198823452
eISBN:
9780191862137
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198823452.003.0009
Subject:
Political Science, Democratization, Political Theory

Virtually all of our knowledge is second-hand, learned from others. In ideal deliberative settings, such as Habermas’s ‘ideal speech situation’, learning from others works well because participants ... More


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