Probabilities as Similarity-Weighted Frequencies

Antoine Billot, Itzhak Gilboa, Dov Samet and David Schmeidler

Chapter 7 in Case-Based Predictions:An Axiomatic Approach to Prediction, Classification and Statistical Learning, 2012, pp 169-184 from World Scientific Publishing Co. Pte. Ltd.

Abstract: A decision maker is asked to express her beliefs by assigning probabilities to certain possible states. We focus on the relationship between her database and her beliefs. We show that, if beliefs given a union of two databases are a convex combination of beliefs given each of the databases, the belief formation process follows a simple formula: beliefs are a similarity-weighted average of the beliefs induced by each past case.

Keywords: Case-Based Reasoning; Case-Based Decision Theory; Statistics; Decision Under Uncertainty (search for similar items in EconPapers)
Date: 2012
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Related works:
Journal Article: Probabilities as Similarity-Weighted Frequencies (2005)
Working Paper: Probabilities as Similarity-Weighted Frequencies (2005)
Working Paper: Probabilities as Similarity-Weighted Frequencies (2004)
Working Paper: Probabilities as Similarity-Weighted Frequencies (2004)
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