On the foundations of qualitative decision theory Academic Article uri icon

abstract

  • Abstract This paper investigates the foundation of rnaxipnin, one of the central qualitative decision criteria, using the approach taken by Savage (Savage 1972) to inves-tigate the foundation and rationality of classical decision theory. This approach asks “which behaviors could result from the use of a particular decision procedure?” The answer to this question provides two important insights:(1) under what conditions can we employ a particular agent model, and (2) how rational is a particular decision procedure. Our main result is a constructive representation theorem in the spirit of Savage's result for expected utility maximization, which uses two choice axioms to characterize the maxapnin criterion. These axioms characterize agent behaviors that can be modeled compactly using the maxcirnin model, and, with some reservations, indicate that rnaxionin is a reasonable decision …

publication date

  • January 1, 1996