Note---Rolling Back Decision Trees Requires the Independence Axiom!

Irving H. LaValle and Kenneth R. Wapman
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Irving H. LaValle: A. B. Freeman School of Business, Tulane University, New Orleans, Louisiana 70118
Kenneth R. Wapman: A. B. Freeman School of Business, Tulane University, New Orleans, Louisiana 70118

Management Science, 1986, vol. 32, issue 3, 382-385

Abstract: The Herstein--Milnor independence axiom is a necessary condition for recursion analysis of decisions in extensive (=tree) form.

Keywords: decision analysis foundations; independence axiom; sure-thing principle (search for similar items in EconPapers)
Date: 1986
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