Inductive inference with incompleteness

Research output: Contribution to journalArticlepeer-review

Abstract

We present an axiomatic model of a process wherein likelihoods of eventualities are compared based on data. One eventuality is perceived as more likely than another whenever the data corroborates this conclusion. However, the correct relevance of records to the eventualities under consideration may be impossible to ascertain with any degree of surety due to multiple interpretations of the data, formalized by allowing the evaluator to entertain multiple weighting functions. The evaluator ranks one eventuality as more likely than another whenever its total weight over the entire database is higher, according to all relevance-weighting functions. Otherwise, the comparison is indecisive.

Original languageEnglish
Pages (from-to)576-591
Number of pages16
JournalGames and Economic Behavior
Volume132
DOIs
StatePublished - Mar 2022

Bibliographical note

Publisher Copyright:
© 2022 Elsevier Inc.

Keywords

  • Case-based decision theory
  • Incompleteness
  • Inductive inference
  • Likelihood comparisons

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