Framing effects occur when different descriptions of the same decision problem give rise to divergent decisions. They can be seen as a violation of the decisiontheoretic version of the principle of extensionality (PE). The PE in logic means that two logically equivalent sentences can be substituted salva veritate. We explore what this notion of extensionality becomes in decision contexts. Violations of extensionality may have rational grounds. Based on some ideas proposed by the psychologist Craig McKenzie and colleagues, we contend that (...) framing effects are justified when the selection of one particular frame conveys choice relevant information. We first discuss this idea from a philosophical point of view, and proceed next to formalize it first in the context of the Bolker–Jeffrey decision theory. Finally, we extend the previous analysis to non-expected utility theories using the Biseparable Preference model introduced by Ghirardato and Marinacci (2001) and therefore show that the analysis is independent of the assumptions of Bayesian decision theory. (shrink)

This is identical with the first edition (see 21: 2716) except for the addition of a Supplement containing 5 previously published articles and the bringing of the bibliography (now 73 items) up to date. The 5 added articles present clarifications or modifications of views expressed in the first edition. (PsycINFO Database Record (c) 2009 APA, all rights reserved).

The paper surveys the currently available axiomatizations of common belief (CB) and common knowledge (CK) by means of modal propositional logics. (Throughout, knowledge- whether individual or common- is defined as true belief.) Section 1 introduces the formal method of axiomatization followed by epistemic logicians, especially the syntax-semantics distinction, and the notion of a soundness and completeness theorem. Section 2 explains the syntactical concepts, while briefly discussing their motivations. Two standard semantic constructions, Kripke structures and neighbourhood structures, are introduced in Sections (...) 3 and 4, respectively. It is recalled that Aumann's partitional model of CK is a particular case of a definition in terms of Kripke structures. The paper also restates the well-known fact that Kripke structures can be regarded as particular cases of neighbourhood structures. Section 3 reviews the soundness and completeness theorems proved w.r.t. the former structures by Fagin, Halpern, Moses and Vardi, as well as related results by Lismont. Section 4 reviews the corresponding theorems derived w.r.t. the latter structures by Lismont and Mongin. A general conclusion of the paper is that the axiomatization of CB does not require as strong systems of individual belief as was originally thought- only monotonicity has thusfar proved indispensable. Section 5 explains another consequence of general relevance: despite the "infinitary" nature of CB, the axiom systems of this paper admit of effective decision procedures, i.e., they are decidable in the logician's sense. (shrink)

It has been maintained that we need not tolerate such entities as pains, events, tasks, and obligations. They are indeed not required in connection with sentences like ‘Jones has a pain’, ‘the event of the sun’s rising occurred at eight’, ‘Jones performed at eight the task of lifting a stone’, or ‘Jones has the obligation to give Smith a horse’, which can be paraphrased without reference to the entities in question—for instance, in the case of the second example, as ‘the (...) sun rose at eight’. (shrink)

Edmund Gettier is Professor Emeritus at the University of Massachusetts, Amherst. This short piece, published in 1963, seemed to many decisively to refute an otherwise attractive analysis of knowledge. It stimulated a renewed effort, still ongoing, to clarify exactly what knowledge comprises.

This book tackles the issues that arise in connection with intensional logic -- a formal system for representing and explaining the apparent failures of certain important principles of inference such as the substitution of identicals and existential generalization -- and intentional states --mental states such as beliefs, hopes, and desires that are directed towards the world. The theory offers a unified explanation of the various kinds of inferential failures associated with intensional logic but also unifies the study of intensional contexts (...) and intentional states by grounding the explanation of both phenomena in a single theory. When an axiomatized realm of abstract entities is added to the metaphysical structure of the world, we can use them to identify and individuate the contents of directed mental states. The special abstract entities can be viewed as the objectified contents of mental files, and they play a crucial role in the analysis of truth conditions of the sentences involved in inferential failures. (shrink)

INTENSIONAL LOGIC §1. Natural Language and Intensional Logic When we speak of a theory of meaning for a natural language such as English, we have in mind an ...

Reasoning About Knowledge is the first book to provide a general discussion of approaches to reasoning about knowledge and its applications to distributed ...

There is an obvious difference between what a term designates and what it means. At least it is obvious that there is a difference. In some way, meaning determines designation, but is not synonymous with it. After all, “the morning star” and “the evening star” both designate the planet Venus, but don't have the same meaning. Intensional logic attempts to study both designation and meaning and investigate the relationships between them.

David Lewis is widely credited with the first formulation of common knowledge and the first rigorous analysis of convention. However, common knowledge and convention entered mainstream game theory only when they were formulated, later and independently, by other theorists. As a result, some of the most distinctive and valuable features of Lewis' game theory have been overlooked. We re-examine this theory by reconstructing key parts in a more formal way, extending it, and showing how it differs from more recent game (...) theory. In contrast to current theories of common knowledge, Lewis' theory is based on an explicit analysis of the modes of reasoning that are accessible to rational individuals and so can be used to analyse the genesis of common knowledge. Lewis' analysis of convention emphasises the role of inductive reasoning and of salience in the maintenance of conventions over time. Footnotes Earlier versions of this paper were presented at the 13th Amsterdam Colloquium at the University of Amsterdam, at a workshop on social norms at Wissenschaftskolleg zu Berlin, and at seminars at Tilburg University and the University of Bristol. We are grateful for comments from participants at those meetings, from two anonymous referees, and from Michael Bacharach, Nick Bardsley, Cristina Bicchieri, Luc Bovens, Simon Grant, David McCarthy, Shepley Orr, Brian Skyrms, Peter Vanderschraaf, Peter Wakker and Jörgen Weibull. Robert Sugden's work was supported by the Leverhulme Trust. (shrink)

This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as (...) helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making. (shrink)

This influential 1888 publication explained the real numbers, and their construction and properties, from first principles.

We show that several logics of common belief and common knowledge are not only complete, but also strongly complete, hence compact. These logics involve a weakened monotonicity axiom, and no other restriction on individual belief. The semantics is of the ordinary fixed-point type.

First - order modal logic is very much under current development, with many different semantics proposed. The use of rigid objects goes back to Saul Kripke. More recently, several semantics based on counterparts have been examined, in a development that goes back to David Lewis. There is yet another line of research, using intensional objects, that traces back to Richard Montague. I have been involved with this line of development for some time. In the present paper, I briefly sketch several (...) of the approaches to first - order modal logic. Then I present one that I call FOIL in the Montague tradition that, I believe, is both expressive and natural. I briefly discuss in what sense it can be made to encompass the other approaches. Finally, I provide tableau rules to go with the FOIL semantics. (shrink)