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135Real world problemsEpisteme 15 (3): 363-382. 2018.In the real world, there can be constraints on rational decision-making: there can be limitations on what I can know and on what you can know. There can also be constraints on my ability to deliberate or on your ability to deliberate. It is useful to know what the norms of rational deliberation should be in ideal contexts, for fully informed agents, in an ideal world. But it is also useful to know what the norms of rational deliberation should be in the actual world, in non-ideal contexts, for i…Read more
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32Sub-models for interactive unawarenessTheory and Decision 79 (4): 601-613. 2015.We propose a notion of a sub-model for each agent at each state in the Heifetz et al. model of interactive unawareness. Presuming that each agent is fully cognizant of his sub-model causes no difficulty and fully describes his knowledge and his beliefs about the knowledge and awareness of others. We use sub-models to motivate the HMS conditions on possibility correspondences.
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44A preference model for choice subject to surpriseTheory and Decision 79 (2): 167-180. 2015.Grant and Quiggin suggest that agents employ heuristics to constrain the set of acts under consideration before applying standard decision theory, based on their restricted model of the world to the remaining acts. The aim of this paper is to provide an axiomatic foundation, and an associated representation theorem, for the preference model proposed by Grant and Quiggin. The unawareness of the agent is encoded both in the specification of the states and in an elaboration of the set of consequenc…Read more
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5Production under uncertainty and choice under uncertainty in the emergence of generalized expected utility theoryTheory and Decision 92 (3-4): 717-729. 2022.Interest in the foundations of the theory of choice under uncertainty was stimulated by applications of expected utility theory such as the Sandmo model of production under uncertainty. The development of generalized expected utility models raised the question of whether such models could be used in the analysis of applied problems such as those involving production under uncertainty. Finally, the revival of the state-contingent approach led to the recognition of a fundamental duality between ch…Read more
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5Financial Markets: Masters or Servants?Politics and Society 39 (3): 331-346. 2011.Throughout the history of capitalism, there have been tensions between financial institutions and the state, and between financial capital and the firms and households engaged in the production and consumption of physical goods and services. Periods of financial sector dominance have regularly ended in spectacular panics and crashes, often resulting in the liquidation of large numbers of financial institutions and the reimposition of regulatory controls previously dismissed as outmoded and unnec…Read more
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17Symposium on Globalization: Globalization and Economic SovereigntyJournal of Political Philosophy 9 (1): 56-80. 2001.
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39Justification Logic with ConfidenceStudia Logica 108 (4): 751-778. 2020.Justification logics are a family of modal logics whose non-normal modalities are parametrised by a type-theoretic calculus of terms. The first justification logic was developed by Sergei Artemov to provide an explicit modal logic for arithmetical provability in which these terms were taken to pick out proofs. But, justification logics have been given various other interpretations as well. In this paper, we will rely on an interpretation in which the modality \ is read ‘S accepts \ as justificat…Read more
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8Adelaide Festival of Ideas session, Bonython Hall, 2:30pm, Saturday 9 July, 2005. Chaired by Ian Henschke.
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8Zombie Economics: How Dead Ideas Still Walk Among UsPrinceton University Press. 2010.But the book contributes much more. Its discussion of how macroeconomics developed, and the ideology that has grown up around it, is every bit as important and interesting."--Mark Thoma, University of Oregon "This is a terrific book.
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62Uncertainty, production, choice, and agency: the state-contingent approachCambridge University Press. 2000.This book demonstrates that the state-contingent approach provides the best way to think about all problems in the economics of uncertainty, including problems...
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45Supermodularity and the comparative statics of riskTheory and Decision 62 (2): 97-117. 2007.In this article, it is shown that a wide range of comparative statics results from expected utility theory can be extended to generalized expected utility models using the tools of supermodularity theory. In particular, a range of concepts of decreasing absolute risk aversion may be formulated in terms of the supermodularity properties of certainty equivalent representations of preferences
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12Free trade and economic integration with the United States : A critical viewDialogue: Academy of the Social Sciences in Australia. 22 (2): 33-37. 2003.The debate over a possible Free Trade Agreement (FTA) with the United States is complicated to the point that the famous Schleswig-Holstein question seems straightforward by comparison. As a result, the debate has been fragmented into a series of arguments on separate issues, more or less ensuring that it will not reach any satisfactory conclusion
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41The value of information and the value of awarenessTheory and Decision 80 (2): 167-185. 2016.Recent literature has examined the problem facing decision makers with bounded awareness, who may be unaware of some states of nature. A question that naturally arises here is whether a value of awareness, analogous to value of information, can be attributed to changes in awareness. In this paper, such a value is defined. It is shown that the sum VOA +\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage…Read more
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95Games without rulesTheory and Decision 63 (4): 315-347. 2007.We introduce the notion of an outcome space, in which strategic interactions are embedded. This allows us to investigate the idea that one strategic interaction might be an expanded version of another interaction. We then characterize the Nash equilibria arising in such extensions and demonstrate a folk-type theorem stating that any individually rational element of the outcome space is a Nash equilibrium
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245Globalization and economic sovereigntyJournal of Political Philosophy 9 (1). 2001.In this paper, attention will focus primarily on economic and financial aspects of the globalization debate, and on their implications for public policy. Nevertheless, these issues cannot be separated from their historical and political context. The current discussion of globalization can only be understood in relation to the development of economic and political institutions over the past century. Globalization is frequently discussed as a counterpoint to national sovereignty. It is commonly as…Read more
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21Dynamic awareness and zero probability beliefsTheory and Decision 83 (3): 309-313. 2017.In this note, it is shown that in a Bayesian model with unawareness of impossible, or vanishingly improbable, events, awareness can only change after such an improbable event has actually been observed.
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281Production under Uncertainty and Choice under Uncertainty in the Emergence of Generalized Expected Utility TheoryTheory and Decision 51 (2/4): 125-144. 2001.This paper presents a personal view of the interaction between the analysis of choice under uncertainty and the analysis of production under uncertainty. Interest in the foundations of the theory of choice under uncertainty was stimulated by applications of expected utility theory such as the Sandmo model of production under uncertainty. This interest led to the development of generalized models including rank-dependent expected utility theory. In turn, the development of generalized expected ut…Read more
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61Economic choice in generalized expected utility theoryTheory and Decision 38 (2): 153-171. 1995.
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University of QueenslandRegular Faculty
Brisbane, Queensland, Australia
Areas of Interest
Epistemology |
Social and Political Philosophy |