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This is an interesting story, but it's also odd that it doesn't mention any of the standard work on decision making (e.g. Savage), no multiattribute decision ma
by jonathanstrange 8y ago
This is an interesting story, but it's also odd that it doesn't mention any of the standard work on decision making (e.g. Savage), no multiattribute decision making/multiattribute utility theory and all the variations thereof such as lexicographic decision making, nontransitive preferences, generalized additive decomposition, and other nonstandard models of decision making (like e.g. in Fishburn's seminal work or Schmeidler's work).
There is consensus in the decision making literature that the direct scoring method described at the end of the article is flawed for measurement theoretic reasons, and a vast range of elaborate preference elicitation methods have been developed. There is also work in philosophy on value structure that is partly relevant, though not yet at the level of economic modelling.
In a nutshell, the article is interesting but sound decision making is much harder and more complicated than the author portrays it. I just wanted to mention this for people who aren't aware of it, there is a vast literature in this area.
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