Abstract
Most models of decisionmaking under uncertainty describe a decision environment with a set of states and a set of outcomes. Objects of choice are acts, functions from states to outcomes. The decision maker (DM) holds a preference relation on the set of all such functions. Representation theorems characterize those preference relations with utility functions on acts that separate (more or less) tastes on outcomes from beliefs on states.
Work supported in part by NSF under grants CTC-0208535, ITR-0325453, and IIS-0534064, by ONR under grants N00014-00-1-03-41 and N00014-01-10-511, and by the DoD Multidisciplinary University Research Initiative (MURI) program administered by the ONR under grant N00014-01-1-0795. A preliminary version of this paper entitled “Redoing the foundations of decision theory” appeared in the Proceedings of Tenth International Conference on Principles of Knowledge Representation and Reasoning, 2006.
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Blume, L.E., Easley, D.A., Halpern, J.Y. (2013). Constructive Decision Theory. In: Lodaya, K. (eds) Logic and Its Applications. ICLA 2013. Lecture Notes in Computer Science, vol 7750. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-36039-8_1
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