Case-Based Decision Theory: From the Choice of Actions to Reasoning about Theories

Jürgen Eichberger and Ani Guerdjikova

Revue économique, 2020, vol. 71, issue 2, 283-306

Abstract: In the 1990s, David Schmeidler and Itzhak Gilboa initiated the study of decision-making under uncertainty in a completely new framework, without states but with data sets as the information on which to build choice behavior. While the first formulations of case-based decision theory (CBDT) aimed at applications in economic decision-making, this theory which takes data as a primitive concept provides an alternative foundation for deriving beliefs and driving the choice of predictions. This opened a new perspective on old questions in statistics and artificial intelligence. In this review, we summarize these developments in CBDT and highlight the immensely innovative nature of David Schmeidler?s academic work. JEL Codes: C18, D80, D81.

Keywords: case-based decisions; similarity; beliefs; predictions; modes of reasoning (search for similar items in EconPapers)
JEL-codes: C18 D80 D81 (search for similar items in EconPapers)
Date: 2020
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