Institute of Information Theory and Automation

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Dept.: MTR Duration: 2017 - 2019
In this project we intend to model individual decision making (DM), a cornerstone of microeconomic theory. First, we will participate in a long-standing discussion challenging the transitivity of preferences, a basic axiom of the expected utility theory. We will propose a DM theory with intransitive preferences and then explore its relationship to existing alternatives. In the next part we will...