Econometric analysis of discrete choice has made considerable use of random utility models to interpret observed choice behavior. Much empirical research concerns choice problems in which persons act with partial knowledge of the utilities of the feasible actions. Economists use random expected utility models to analyze such choice problems. A common practice is to specify fully the expectations that persons hold, in which case choice analysis reduces to inference on preferences alone. However, the expectations assumptions made (...) in empirical research rarely have much foundation. To enable more credible research, this paper considers inference when one specifies a set of expectations that decision makers may plausibly hold. I first pose the idea in abstraction and then specialize to binary response with linear utilities, where the analysis is particularly straightforward. I initially assume that decision makers possess unique subjective probability distributions on the states of nature and make choices that maximize expected utility. I later consider the possibility that persons place only partial probabilistic structure on the states of nature and make undominated choices. (shrink)

While the paradigm of utility maximisation has formed the basis of the majority of applications in discrete choice modelling for over 40 years, its core assumptions have been questioned by work in both behavioural economics and mathematical psychology as well as more recently by developments in the RUM-oriented choice modelling community. This paper reviews the basic properties with a view to explaining the historical pre-eminence of utility maximisation and addresses the question of what departures from the paradigm may (...) be necessary or wise in order to accommodate richer behavioural patterns. We find that many, though not all, of the behavioural traits discussed in the literature can be approximated sufficiently closely by a random utility framework, allowing analysts to retain the many advantages that such an approach possesses. (shrink)

Though the Random Utility Model (RUM) was conceived entirely in terms of ordinal utility, the apparatus through which it is widely practised exhibits properties of cardinal utility. The adoption of cardinal utility as a working operation of ordinal is perfectly valid, provided interpretations drawn from that operation remain faithful to ordinal utility. The article considers whether the latter requirement holds true for several measurements commonly derived from RUM. In particular it is found that (...) measurements of consumer surplus change may depart from ordinal utility, and exploit the cardinality inherent in the practical apparatus. (shrink)

This paper discusses random utility representations of the Luce model. Earlier works, such as McFadden, Yellott, and Strauss have discussed random utility representations under the assumption that utilities are additively separable in a deterministic and a random part. Under various conditions, they have established that a separable and independent random utility representation exists if and only if the random terms are type III extreme value distributed. This paper analyzes independent random (...) utility representations without the separability condition and with an infinite universal set of alternatives. Under these assumptions, it turns out that the most general random utility representation of the Luce model is a utility function that is an arbitrary strictly increasing transformation of a separable utility function with extreme value distributed random terms. (shrink)

Research on reasoning about consequential arguments has been an active but piecemeal enterprise. Previous research considered in depth some subclasses ofconsequential arguments, but further understanding of consequential arguments requires that we address their greater variety, avoiding the risk of over-generalisation from specific examples. Ideally we ought to be able to systematically generate the set of consequential arguments, and then engage in random sampling of stimuli within that set. The current article aims at making steps in that direction, using the (...) theory of utility conditionals as a way to generate a large set of consequential arguments, and offering one study illustrating how the theory can be used for the random sampling of stimuli. Itis expected that further use of this method will bring more diversity to experimental research on consequential arguments, and more robustness to models of argumentation from consequences. (shrink)

Discrete choice experiments—selecting the best and/or worst from a set of options—are increasingly used to provide more efficient and valid measurement of attitudes or preferences than conventional methods such as Likert scales. Discrete choice data have traditionally been analyzed with random utility models that have good measurement properties but provide limited insight into cognitive processes. We extend a well-established cognitive model, which has successfully explained both choices and response times for simple decision tasks, to complex, multi-attribute discrete (...) choice data. The fits, and parameters, of the extended model for two sets of choice data (involving patient preferences for dermatology appointments, and consumer attitudes toward mobile phones) agree with those of standard choice models. The extended model also accounts for choice and response time data in a perceptual judgment task designed in a manner analogous to best–worst discrete choice experiments. We conclude that several research fields might benefit from discrete choice experiments, and that the particular accumulator-based models of decision making used in response time research can also provide process-level instantiations for random utility models. (shrink)

Supply chain management is critical for addressing uncertainties caused by random demand and production yield. In this study, a random yield supply chain, in which the production process of fresh agricultural products is easily affected by factors, such as weather, soil, or plant diseases and insect pests, was considered. Therefore, the actual output is typically less than the planned output. A model in which the producer faces yield uncertainty was considered, and the influence of the producer’s fairness (...) concerns on the planned output of the contract-farming supply chain was considered. Methods to motivate the producer to increase planned output through reasonable contracts were investigated. The results revealed that the producer’s fairness concern considerably influences the optimal expected profit. In the case of the random output, the planned output and maximum expected profits reduce when the farmer exhibits fairness concerns. As the degree of the producer’s fairness concern increases, the planned output and expected profit gradually decrease The cost-sharing contract can effectively encourage the producer to increase his planned output and expected utility. Finally, the results were verified numerically. (shrink)

Expected utility maximization problem is one of the most useful tools in mathematical finance, decision analysis and economics. Motivated by statistical model selection, via the principle of expected utility maximization, Friedman and Sandow (J Mach Learn Res 4:257–291, 2003a) considered the model performance question from the point of view of an investor who evaluates models based on the performance of the optimal strategies that the models suggest. They interpreted their performance measures in information theoretic terms and (...) provided new generalizations of Shannon entropy and Kullback–Leibler relative entropy and called them U-entropy and U-relative entropy. In this article, a utility-based criterion for independence of two random variables is defined. Then, Markov’s inequality for probabilities is extended from the U-entropy viewpoint. Moreover, a lower bound for the U-relative entropy is obtained. Finally, a link between conditional U-entropy and conditional Renyi entropy is derived. (shrink)

Empirical research often requires a method how to convert a deterministic economic theory into an econometric model. A popular method is to add a random error term on the utility scale. This method, however, ignores stochastic dominance. A modification of this method is proposed to account for stochastic dominance. The modified model compares favorably to other existing models in terms of goodness of fit to experimental data. The modified model can rationalize the preference reversal phenomenon. (...) An intuitive axiomatic characterization of the modified model is provided. Important microeconomic concept of risk aversion is well defined in the modified model. (shrink)

The possibility to interpret expected and nonexpected utility theories in purely probabilistic terms has been recently investigated. Such interpretation proposes as guideline for the Decision Maker the comparison of random variables through their probability to outperform a stochastic benchmark. We apply this type of analysis to the model of Becker and Sarin, showing that their utility functional may be seen as the probability that an opportune random variable, depending on the one to be evaluated, does (...) not outperform a non-random benchmark. Further, the consequent choice criterion is equivalent to a sort of probability of ruin. Possible interpretations and financial examples are discussed. (shrink)

In both theoretical and applied modeling in behavioral sciences, it is common to choose a mathematical specification of functional form and distribution of unobservables on grounds of analytic convenience without support from explicit theoretical postulates. This article discusses the issue of deriving particular qualitative hypotheses about functional form restrictions in structural models from intuitive theoretical axioms. In particular, we focus on a family of postulates known as dimensional invariance. Subsequently, we discuss how specific qualitative postulates can be reformulated so as (...) to allow for conventional statistical hypothesis testing, and we also derive details of a particular likelihood ratio test procedure. An empirical application of the testing procedure is carried out, based on data from a Stated Preference survey. (shrink)

This note establishes a new identification result for additive random utility discrete choice models. A decision-maker associates a random utility Uj+mj\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$U_{j}+m_{j}$$\end{document} to each alternative in a finite set j∈1,…,J\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$j\in \left\{ 1,\ldots,J\right\}$$\end{document}, where U=U1,…,UJ\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\mathbf {U}=\left\{ U_{1},\ldots,U_{J}\right\}$$\end{document} is unobserved by the researcher and random with an unknown joint distribution, (...) while the perturbation m=m1,…,mJ\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\mathbf {m}=\left $$\end{document} is observed. The decision-maker chooses the alternative that yields the maximum random utility, which leads to a choice probability system m→Pr1|m,…,PrJ|m\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\mathbf { m\rightarrow }\left,\ldots,\Pr \left \right) $$\end{document}. Previous research has shown that the choice probability system is identified from the observation of the relationship m→Pr1|m\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$ \mathbf {m}\rightarrow \Pr \left $$\end{document}. We show that the complete choice probability system is identified from observation of a relationship m→∑j=1sPrj|m\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\mathbf {m}\rightarrow \sum _{j=1}^{s}\Pr \left $$\end{document}, for any sshrink)

Experimental data on social preferences present a number of features that need to be incorporated in econometric modelling. We explore a variety of econometric modelling approaches to the analysis of such data. The approaches under consideration are: the Random Utility approach ; the Random Behavioural approach ; and the Random Preference approach. These approaches are applied in various ways to an experiment on fairness conducted by Cappelen et al. :818–827, 2007). Various models that we estimate succeed (...) in capturing the key features of the dataset. Conclusions concerning fairness-related behaviour depend crucially on the choice of econometric model. (shrink)

Expected utility maximization problem is one of the most useful tools in mathematical finance, decision analysis and economics. Motivated by statistical model selection, via the principle of expected utility maximization, Friedman and Sandow (J Mach Learn Res 4:257–291, 2003a) considered the model performance question from the point of view of an investor who evaluates models based on the performance of the optimal strategies that the models suggest. They interpreted their performance measures in information theoretic terms and (...) provided new generalizations of Shannon entropy and Kullback–Leibler relative entropy and called them U-entropy and U-relative entropy. In this article, a utility-based criterion for independence of two random variables is defined. Then, Markov’s inequality for probabilities is extended from the U-entropy viewpoint. Moreover, a lower bound for the U-relative entropy is obtained. Finally, a link between conditional U-entropy and conditional Renyi entropy is derived. (shrink)

For decades, discrete choice modelling was practically dominated by only two models: multinomial probit and logit. This paper presents a novel alternative—harmonic choice model. It is qualitatively similar to multinomial probit and logit: if one choice alternative greatly exceeds all (falls below at least one of) other alternatives in terms of utility then it is chosen with probability close to one (zero). Compared to probit and logit, the new model has relatively flat tails and it is steeper (...) in the neighborhood of zero (when all alternatives yield the same utility and the decision maker chooses among them at random). (shrink)

The optimal investment problem is studied for a continuous time incomplete market model. It is assumed that the risk-free rate, the appreciation rates, and the volatility of the stocks are all random; they are independent from the driving Brownian motion, and they are currently observable. It is shown that some weakened version of Mutual Fund Theorem holds for this market for general class of utilities. It is shown that the supremum of expected utilities can be achieved on a (...) sequence of strategies with a certain distribution of risky assets that does not depend on risk preferences described by different utilities. (shrink)

Models of choice over menus aim at capturing the effect of some behavioral or non-standard element of decision-making on the behavior of a single decision-maker. These models are usually compared with the standard model of choice over menus, in which the decision-maker chooses a menu whose best item is better than that of all other available ones. However, in many empirical settings such as experimental studies, choice data come from a population of decision-makers with possibly heterogeneous attitudes and tastes. (...) This heterogeneity can make the observed choices over menus stochastic. This fact calls for a stochastic characterization of models of choice over menus to be able to better compare and contrast different models empirically. In this paper, I do this task for the standard model, which would be an extension of the random utility model to the realm of choice over menus. In particular, I provide the necessary and sufficient conditions, i.e., axioms on choice data over menus for it to be consistent with a population of decision-makers each of whom behaves according to the standard model. The axioms that characterize the model are the axiom of revealed stochastic preferences over singletons and three rationality axioms. (shrink)

This article describes rational analyses and cognitive models of Web users developed within information foraging theory. This is done by following the rational analysis methodology of (a) characterizing the problems posed by the environment, (b) developing rational analyses of behavioral solutions to those problems, and (c) developing cognitive models that approach the realization of those solutions. Navigation choice is modeled as a random utility model that uses spreading activation mechanisms that link proximal cues (information scent) that occur (...) in Web browsers to internal user goals. Web‐site leaving is modeled as an ongoing assessment by the Web user of the expected benefits of continuing at a Web site as opposed to going elsewhere. These cost–benefit assessments are also based on spreading activation models of information scent. Evaluations include a computational model of Web user behavior called Scent‐Based Navigation and Information Foraging in the ACT Architecture, and the Law of Surfing, which characterizes the empirical distribution of the length of paths of visitors at a Web site. (shrink)

Synthetic biology offers a powerful method to design and construct biological devices for human purposes. Two prominent design methodologies are currently used. Rational design adapts the design methodology of traditional engineering sciences, such as mechanical engineering. Directed evolution, in contrast, models its design principles after natural evolution, as it attempts to design and improve systems by guiding them to evolve in a certain direction. Previous work has argued that the primary difference between these two is the way they treat variation: (...) rational design attempts to suppress it, whilst direct evolution utilizes variation. I argue that this contrast is too simplistic, as it fails to distinguish different types of variation and different phases of design in synthetic biology. I outline three types of variation and show how they influence the construction of synthetic biological systems during the design process. Viewing the two design approaches with these more fine-grained distinctions provides a better understanding of the methodological differences and respective benefits of rational design and directed evolution, and clarifies the constraints and choices that the different design approaches must deal with. (shrink)

Playing an important role in electromechanical systems, hydraulic servo system is crucial to mechanical systems like engineering machinery, metallurgical machinery, ships, and other equipment. Fault diagnosis based on monitoring and sensory signals plays an important role in avoiding catastrophic accidents and enormous economic losses. This study presents a fault diagnosis scheme for hydraulic servo system using compressed random subspace based ReliefF method. From the point of view of feature selection, the scheme utilizes CRSR method to determine the most stable (...) feature combination that contains the most adequate information simultaneously. Based on the feature selection structure of ReliefF, CRSR employs feature integration rules in the compressed domain. Meanwhile, CRSR substitutes information entropy and fuzzy membership for traditional distance measurement index. The proposed CRSR method is able to enhance the robustness of the feature information against interference while selecting the feature combination with balanced information expressing ability. To demonstrate the effectiveness of the proposed CRSR method, a hydraulic servo system joint simulation model is constructed by HyPneu and Simulink, and three fault modes are injected to generate the validation data. (shrink)

Sentence boundary detection (SBD) represents an important first step in natural language processing since accurately identifying sentence boundaries significantly impacts downstream applications. Nevertheless, detecting sentence boundaries within legal texts poses a unique and challenging problem due to their distinct structural and linguistic features. Our approach utilizes deep learning models to leverage delimiter and surrounding context information as input, enabling precise detection of sentence boundaries in English legal texts. We evaluate various deep learning models, including domain-specific transformer models like LegalBERT and (...) CaseLawBERT. To assess the efficacy of our deep learning models, we compare them with a state-of-the-art domain-specific statistical conditional random field (CRF) model. After considering model size, F1-score, and inference time, we identify the Convolutional Neural Network Model (CNN) as the top-performing deep learning model. To further enhance performance, we integrate the features of the CNN model into the subsequent CRF model, creating a hybrid architecture that combines the strengths of both models. Our experiments demonstrate that the hybrid model outperforms the baseline model, achieving a 4% improvement in the F1-score. Additional experiments showcase the superiority of the hybrid model over SBD open-source libraries when confronted with an out-of-domain test set. These findings underscore the importance of efficient SBD in legal texts and emphasize the advantages of employing deep learning models and hybrid architectures to achieve optimal performance. (shrink)

Many NLP tasks rely on accurately estimating word dependency probabilities P(w1|w2), where the words w1 and w2 have a particular relationship (such as verb-object). Because of the sparseness of counts of such dependencies, smoothing and the ability to use multiple sources of knowledge are important challenges. For example, if the probability P(N |V ) of noun N being the subject of verb V is high, and V takes similar objects to V , and V is synonymous to V , then (...) we want to conclude that P(N |V ) should also be reasonably high—even when those words did not cooccur in the training data. (shrink)

This paper formulates and axiomatizes utility models for denumerable time streams that make no commitment in regard to discounting future outcomes. The models address decision under certainty and decision under risk. Independence assumptions in both contexts lead to additive or multiplicative utilities over time periods that allow unambiguous comparisons of the relative importance of different periods. The models accommodate all patterns of future valuation. This discount-neutral feature is attained by restricting preference comparisons to outcome streams or probability distributions on (...) outcome streams that differ in at most a finite number of periods. (shrink)

We propose a descriptive version of the classical multi-attribute utility model; to that end, we add a new parameter, momentary salience, to the customary formulation. The addition of this parameter allows the theory to accommodate changes in the decision maker’s mood and circumstances, as the saliencies of anticipated consequences are driven by concerns of the moment. By allowing for the number of consequences given attention at the moment of decision to vary, the new model mutes the criticism (...) that SEU models call for an omniscient decision maker. Use of the model is illustrated with a large-scale longitudinal study showing that adolescent smokers have higher utility for smoking than nonsmokers. We also propose to use the model hierarchically to describe everyday decisions that people deal with repeatedly. Big decisions, which set policy, guide a host of nested little decisions, which in turn lead to action. For a little decision, one of the options will be consistent with the policy, and will inherit its high utility. Accordingly, most little decisions will be made quickly and will follow the policy. However, people do sometimes decide to violate their own policies, and we describe how these lapses can lead to collapse of the policy. (shrink)

An expected utility model of individual choice is formulated which allows the decision maker to specify his available actions in the form of controls (partial contingency plans) and to simultaneously choose goals and controls in end-mean pairs. It is shown that the Savage expected utility model, the Marschak- Radner team model, the Bayesian statistical decision model, and the standard optimal control model can be viewed as special cases of this goal-control expected utility (...) model. (shrink)

In a recent paper in this journal, Dagsvik derives the class of independent random utility representations that are “equivalent” to the independence-from-irrelevant-alternatives assumption by Luce. In this short note, we clarify the relations between this paper by Dagsvik, and a paper in Lindberg’s 2012 thesis.

Bartha and DesRoches (Synthese 199(3–4):8701–8740, 2021) and Steel and Bartha (Risk Analysis 43(2):260–268, 2023) argue that we should understand the precautionary principle as the injunction to maximise lexical utilities. They show that the lexical utility model has important pragmatic advantages. Moreover, the model has the theoretical advantage of satisfying all axioms of expected utility theory except continuity. In this paper I raise a trilemma for any attempt at modelling the precautionary principle with lexical utilities: it permits (...) choice cycles or leads to paralysis or implies that the smallest value difference that is possible in a context has extreme axiological implications. (shrink)

In the automatic detection of epileptic seizures, the monitoring of critically ill patients with time varying EEG signals is an essential procedure in intensive care units. There is an increasing interest in using EEG analysis to detect seizure, and in this study we aim to get a better understanding of how to visualize the information in the EEG time-frequency feature, and design and train a novel random forest algorithm for EEG decoding, especially for multiple-levels of illness. Here, we propose (...) an automatic detection framework for epileptic seizure based on multiple time-frequency analysis approaches; it involves a novel random forest model combined with grid search optimization. The short-time Fourier transformation visualizes seizure features after normalization. The dimensionality of features is reduced through principal component analysis before feeding them into the classification model. The training parameters are optimized using grid search optimization to improve detection performance and diagnostic accuracy by in the recognition of three different levels epileptic of conditions (healthy subjects, seizure-free intervals, seizure activity). Our proposed model was used to classify 500 samples of raw EEG data, and multiple cross-validations were adopted to boost the modeling accuracy. Experimental results were evaluated by an accuracy, a confusion matrix, a receiver operating characteristic curve and an area under the curve. The evaluations indicated that our model achieved the more effective classification than some previous typical methods. Such a scheme for computer-assisted clinical diagnosis of seizures has a potential guiding significance, which not only relieves the suffering of patient with epilepsy to improve quality of life, but also helps neurologists reduce their workload. (shrink)

Cross-classified random effects models have been developed for appropriately analyzing data with a cross-classified structure. Despite its flexibility and the prevalence of cross-classified data in social and behavioral research, CCREMs have been under-utilized in applied research. In this article, we present CCREMs as a general and flexible modeling framework, and present a wide range of existing models designed for different purposes as special instances of CCREMs. We also introduce several less well-known applications of CCREMs. The flexibility of CCREMs allows (...) these models to be easily extended to address substantive questions. We use the free R package PLmixed to illustrate the estimation of these models, and show how the general language of the CCREM framework can be translated into specific modeling contexts. (shrink)

PurposeThe purpose of this study was to introduce an orthogonal experimental design to improve the efficiency of building and optimizing models for freezing of gait prediction.MethodsA random forest model was developed to predict FOG by using acceleration signals and angular velocity signals to recognize possible precursor signs of FOG. An OED was introduced to optimize the feature extraction parameters.ResultsThe main effects and interaction among the feature extraction hyperparameters were analyzed. The false-positive rate, hit rate, and mean prediction time (...) were 27%, 68%, and 2.99 s, respectively.ConclusionThe OED was an effective method for analyzing the main effects and interactions among the feature extraction parameters. It was also beneficial for optimizing the feature extraction parameters of the FOG prediction model. (shrink)

In some applications to human beings, the precautionary principle seems to raise specific ethical concerns. For instance, it has been used by a business owner in a court of justice to justify his refusal to hire applicants with a certain geographical origin for safety reasons. Or in public management, the precautionary principle has been used to exclude men who have sexual relations with men from donating blood on the basis of a higher HIV prevalence in this group. Does not the (...) precautionary principle here amount to justifying a form of discrimination? To help analyze what is at stake from a decision-theoretic viewpoint and to consider the possibility of ethical catastrophes, we offer a lexical utility model of the precautionary principle, which generalizes a previous model by Bartha and DesRoches (Synthese 199:8701–8740, 2021), Steel and Bartha (Risk Anal https://doi.org/10.1111/risa.13892, 2022). Traditional expected utility theory also comes out as a special case of the model. Our proposal opens new perspectives for considering ethical dilemmas within a precautionary approach. It is intended to serve as a guiding tool for management teams in socially responsible companies, public institutions, and government agencies. (shrink)

There are few models of price competition in a homogeneous-good market which permit general asymmetries of information amongst the sellers. This work studies a price game with discontinuous payoffs in which both costs and market demand are ex ante uncertain. The sellers evaluate uncertain profits with maximin expected utilities exhibiting ambiguity aversion. The buyers in the market are permitted to split between sellers tieing at the minimum price in arbitrary ways which may be deterministic or random. The role of (...) the primitives in determining equilibrium prices in the market is analyzed in detail. (shrink)

Efficient thinking is the foundation of efficient operation. The correct definition of concepts, especially the basic ones for a given field, in order to reach the truth, is a condition for the development of science and its social utility. The Petrażycki’s research methodology of law is a thoroughly modern method, as it enables effective examination of the accuracy of contemporary legal theories created after Petrażycki’s input. A model contemporary theory susceptible to an examination through the research methodology of (...) law by Petrażycki is the normative theory of legal rules and non-legal standards by Dworkin. For this purpose some falsifications will be subject, i.e. selected ad hoc among many others, two important theories of normative law theory Dworkin. The first one is the thesis classifying legal norms into two groups of norms, namely legal rules and non-legal standards. The second one is a thesis about the existence of who are capable of discovering and issuing lawful and, at the same time, fair court decisions, which are also the only ones for resolving particular court disputes. Unfortunately, owing to the seemingly cognitive research methodology of Petrażycki, both Dworkin’s deformed division of legal norms as well as Dworkin’s Hercules judges - cannot stand the test of authenticity. Due to the Petrażycki’s methodology, the legal-normative theory of Dworkin does not lose an innovative outlook on the existence of social norms, which are being discovered by judges in the jurisprudence, indifferently to the doubts over their proper classification. Moreover, Dworkin’s theory is placed between naive theories, regardless of whether they are considered realistically naive theories or nihilistically naive theories A few random reflections on the well-known work of Dworkin with the help of Petrażycki’s methodology serve to provide a new perspective on the contemporary legal normativity. (shrink)

Maxmin Expected Utility was first axiomatized by Gilboa and Schmeidler in an Anscombe–Aumann setup Anscombe and Aumann which includes exogenous probabilities. The model was later axiomatized in a purely subjective setup, where no exogenous probabilities are assumed. The purpose of this note is to show that in all these axiomatizations, the only assumptions that are needed are the basic ones that are used to extract a cardinal utility function, together with the two typical Maxmin assumptions, Uncertainty Aversion (...) and Certainty Independence, applied only to 0.5:0.5 mixtures. For the purely subjective characterizations, this means that assumptions involving an unbounded number of variables can be replaced with assumptions that involve only a finite number thereof. (shrink)