A method of weighing qualitative preference axioms |
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Authors: | Roger M Cooke Henk Draaisma |
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Institution: | 1. Department of Philosophy and Social Sciences, Technical University Delft Kanaalweg 2b, 2628 EB Delft, Netherlands;2. Department of Philosophy, Technical University Delft Kanaalweg 2b, 2628 EB Delft, Netherlands;3. Department of Physics, Technical University Delft Kanaalweg 2b, 2628 EB Delft, Netherlands |
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Abstract: | A method is developed for determining the absolute and relative strengths of qualitative preference axioms in normative Bayesian decision theory. These strengths are calculated for the three most common qualitative axioms; transitivity, the sure-thing principle, and dominance. The relative strength of the latter two axioms with respect to transitivity is calculated for special cases, and a bound is derived which is applicable to a larger class of decision problems. Possible implications of this theoretical work for decision heuristics are discussed. |
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