Note---Does Rolling Back Decision Trees Really Require the Independence Axiom?

Gordon B. Hazen
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Gordon B. Hazen: Department of Industrial Engineering and Management Sciences, Northwestern University, Evanston, Illinois 60201

Management Science, 1987, vol. 33, issue 6, 807-809

Abstract: In a recent article, LaValle and Wapman argue that the recursion analysis of decision trees in extensive form requires the Herstein-Milnor independence axiom. I claim that most extensive form analyses are perfectly proper in the absence of independence, but that the transformation from extensive to normal form is impermissible.

Keywords: decision analysis foundations; independence axiom; sure thing principle (search for similar items in EconPapers)
Date: 1987
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