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Decision-making through Dominance Plausible Rule: New characterizations

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  • Camacho, Franklin
  • Pino Pérez, Ramón

Abstract

We go deeper into the study of the Dominance Plausible Rule (DPR) model of preferences over acts due to Dubois et al. This model corresponds, in the qualitative framework, to Savage’s model. The DPR model relies on two purely ordinal primitives: (1) a preference over consequences and (2) a plausibility relation over sets of states of the world. We characterize several versions of the model defined by different classes of plausibility relations. Our representation results also show that the model has interesting rationality properties. As a consequence of our characterizations, we obtain subjective plausibility relations of several kinds.

Suggested Citation

  • Camacho, Franklin & Pino Pérez, Ramón, 2021. "Decision-making through Dominance Plausible Rule: New characterizations," Mathematical Social Sciences, Elsevier, vol. 113(C), pages 107-115.
    • Handle: RePEc:eee:matsoc:v:113:y:2021:i:c:p:107-115
    DOI: 10.1016/j.mathsocsci.2021.05.003
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    References listed on IDEAS

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    1. Lorenz Hartmann, 2020. "Savage's P3 Is Redundant," Econometrica, Econometric Society, vol. 88(1), pages 203-205, January.
    2. Hens, Thorsten, 1992. "A Note on Savage's Theorem with a Finite Number of States," Journal of Risk and Uncertainty, Springer, vol. 5(1), pages 63-71, February.
    3. Bossert Walter & Pattanaik Prasanta K. & Xu Yongsheng, 1994. "Ranking Opportunity Sets: An Axiomatic Approach," Journal of Economic Theory, Elsevier, vol. 63(2), pages 326-345, August.
    4. Ramsey, Frank P., 1926. "Truth and Probability," Histoy of Economic Thought Chapters, in: Braithwaite, R. B. (ed.),The Foundations of Mathematics and other Logical Essays, chapter 7, pages 156-198, McMaster University Archive for the History of Economic Thought.
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    Cited by:

    1. Amílcar Mata Díaz & Ramón Pino Pérez & Jahn Franklin Leal, 2023. "Taxonomy of powerful voters and manipulation in the framework of social choice functions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 61(2), pages 277-309, August.

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