By P.P. Wakker

ISBN-10: 9048140366

ISBN-13: 9789048140367

ISBN-10: 940157815X

ISBN-13: 9789401578158

`This e-book represents a truly actual and demanding contribution to the math of determination idea.
The distinguishing function of Wakker's strategy is that he has little need of a reference experiment.
There are extra effects aplenty and masses for the choice theorist to examine. those effects also will support psychologists, economists and others formulate and try versions of decision-making behaviour.
via any criteria its ebook is a landmark ... very good survey and precis of the literature on additive choice types. each one web page represents the distillation of a lot inspiration. for that reason, it's a e-book that rewards interpreting and rereading. Wakker's effects and strategies of evidence will enlighten examine into determination thought for lots of years.'
British magazine of Mathematical and Statistical Psychology, forty three, 1990

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Extra resources for Additive Representations of Preferences: A New Foundation of Decision Analysis

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Xm. , we must now have xOpxl ... pxmpxO. This contradicts SARP. 11. If t::. contains all two-and three-point subsets of closed, then llA implies congruency. x, or if t::. is union- PROOF. Assume that IIA holds, and let xORxl ... Rxm. We prove that not xmpxO. As in the proof of the above lemma, we may assume xj ". xj +l for all 0 S j S m-1. Hence Dl, ... ,Dm exist such that xj E C(Dj+l), xj +1 E ~+l for all 0 S j S m-1. If xm = xO, or not xmRx O, then also not xmpxO. So let us assume that xm ".

So, if two alternatives have a common coordinate, then by CI the preference is unaffected when that coordinate is changed into any other common coordinate. (In the above definition the common coordinate Vi is changed into the common coordinate Wi') CI is the restriction of independence of equal subalternatives to the case where the involved subalternatives are coordinates. Hence independence of equal sub alternatives Subalternatives 31 l(;/O 1 I, -I 1 W '" eX . 1................. 1. (Coordinate independenCe (CIl).

Let us note here that the formulation of P2 in the end pages of Savage(1954), in the intended presence of postulate PI 0= is a weak order), is not correct, as was pointed out by Fishburn, and corrected in the second edition of 1972 of 'The Foundations of Statistics'. Already Samuelson(1952) recognized the relatedness of the independence conditions, commonly used in decision making under risk/uncertainty, with the independence conditions used in other fields. The sure-thing principle can be seen to underlie the 'likelihood principle' in statistics.

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Additive Representations of Preferences: A New Foundation of Decision Analysis by P.P. Wakker


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