This was part of Decision Making under Uncertainty

Time-Constrained Sequential Neural Decision Procedures in Multialternative Choice Problems

Fabio Maccheroni, Bocconi University

Monday, May 2, 2022



Abstract:

We introduce an algorithmic decision process for multialternative choice, the Neural Metropolis Algorithm, that combines binary comparisons and Markovian exploration. We show that a stochastic version of transitivity, a basic tenet of rationality, makes this algorithm value-based. In so doing, we extend to decision procedures some classic stochastic choice notions.