Rational decisions in non-probabilistic settings

Опубликовано 17 августа 2016, 20:34

The knowledge-based rational decision model (KBR-model) is built on explicit epistemic reading of standard game-theoretical assumptions, e.g., HarsanyiΓÇÖs Maximin Postulate, in a non-probabilistic setting. This model suggests following maximin strategy over all scenarios which the agent considers possible to the best of his knowledge. In this talk, we show that KBR is the only non-probabilistic decision making method which is definitive, rational, and based exclusively on knowledge. We analyze other decision methods: Nash equilibrium and subgame perfect equilibrium, backward induction solution, pure maximin, eliminating dominated strategies, and for each of these cases indicate which of three properties (definitive, rational, or based exclusively on knowledge) fails.