David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Minds and Machines 16 (3):339-364 (2006)
Many quantitative scales are constructed using cutoffs on a continuum with scores assigned to the cutoffs. This paper develops a framework for using or constructing such scales from a decision-making standpoint. It addresses questions such as: How many distinct thresholds or cutoffs on a scale (i.e., what levels of granularity) are useful for a rational agent? Where should these thresholds be placed given a rational agent’s preferences and risk-orientation? Do scale score assignments have any bearing on decision-making and if so, how should scores be assigned? Given two possible states of nature , an ordered collection of alternatives from which one is to be selected depending on the probability that A is the case, a simple expected utility condition stipulates when adjacent alternatives are distinguishable and determines the threshold odds separating them. Threshold odds and utilities are mapped onto scale scores via a simple distance model. The placement of the thresholds reflects relative concern over decisional consequences given A versus consequences given ∼ A. Likewise, it is shown that scale scores reflect risk-aversion or risk-seeking not only with respect to A versus ∼ A but also with respect to the rank of the R j . Connections are drawn between this framework and rank-dependent expected utility (RDEU) theory. Implications are adumbrated for both machine and human decision-making.
|Keywords||Measurement Expected utility Scale construction Granularity Decision Uncertainty|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
Paul Weirich (1986). Expected Utility and Risk. British Journal for the Philosophy of Science 37 (4):419-442.
Richard Watt, Francisco J. Vázquez & Ignacio Moreno (2001). An Experiment on Rational Insurance Decisions. Theory and Decision 51 (2/4):247-296.
Robert Landeros & Richard E. Plank (1996). How Ethical Are Purchasing Management Professionals? Journal of Business Ethics 15 (7):789 - 803.
Gian Luca Casali (2011). Developing a Multidimensional Scale for Ethical Decision Making. Journal of Business Ethics 104 (4):485-497.
R. Lange, M. A. Thalbourne, J. Houran & L. Storm (2000). The Revised Transliminality Scale: Reliability and Validity Data From a Rasch Top-Down Purification Procedure. Consciousness and Cognition 9 (4):591-617.
Moez Abouda & Alain Chateauneuf (2002). Positivity of Bid-Ask Spreads and Symmetrical Monotone Risk Aversion. Theory and Decision 52 (2):149-170.
Johanna Kujala & Tarja Pietiläinen (2004). Female Managers' Ethical Decision-Making: A Multidimensional Approach. [REVIEW] Journal of Business Ethics 53 (1-2):153-163.
Oliver M. Freestone & Peter J. McGoldrick (2008). Motivations of the Ethical Consumer. Journal of Business Ethics 79 (4):445 - 467.
Gerd Weinrich (1999). Nondegenerate Intervals of No-Trade Prices for Risk Averse Traders. Theory and Decision 46 (1):79-99.
Sorry, there are not enough data points to plot this chart.
Added to index2009-01-28
Total downloads1 ( #301,596 of 1,006,224 )
Recent downloads (6 months)0
How can I increase my downloads?