Case-Based Decision Theory

Ani Guerdjikova

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Decision-Making and Behavioral Economics Game Theory and Applications Experimental Behavioral Economics Studies

Abstract

Case-based decision theory was developed by Gilboa and Schmeidler. This article describes the framework and lays out the axiomatic foundations of the theory. An illustration based on a model of repeated choice is provided and the applications of the theory to economic problems are listed. Finally, the relationship between the case-based decision theory and expected utility theory is discussed.

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1989Maxmin expected utility with non-unique prior 1958Motives in fantasy, action, and society 1748An Enquiry concerning Human Understanding 1945Personality and behavior disorders.1995Case-Based Decision Theory 2001A Theory of Case-Based Decisions 1942Wish, expectation, and group standards as factors influencing level of aspiration.1997Act similarity in case-based decision theory

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