Decision-Making in the Context of Imprecise Probabilistic Beliefs

Coherent imprecise probabilistic beliefs are modelled as incomplete comparative likelihood relations admitting a multiple-prior representation. Under a structural assumption of Equidivisibility, we provide an axiomatization of such relations and show uniqueness of the representation. In the second part of the paper, we formulate a behaviorally general axiom relating preferences and probabilistic beliefs which implies that preferences over unambiguous acts are probabilistically sophisticated and which entails representability of preferences over Savage acts in an Anscombe-Aumann-style framework. The motivation for an explicit and separate axiomatization of beliefs for the study of decision-making under ambiguity is discussed in some detail.

Family-friendly work practices: differences within and between workplaces

One of the major economic and social changes of recent decades has been the large increase in the number of mothers in paid employment. As a consequence, there has been increasing recognition by employers of the importance of family-friendly work arrangements to assist parents to balance work and family responsibilities. This research is the first large-scale analysis of the extent to which employees within organisations in Australia have differential access to a range of family-friendly work practices.

Ordering based decision making: a survey

Decision making is the crucial step in many real applications such as organization management, financial planning, products evaluation and recommendation. Rational decision making is to select an alternative from a set of different ones which has the best utility (i.e., maximally satisfies given criteria, objectives, or preferences). In many cases, decision making is to order alternatives and select one or a few among the top of the ranking. Orderings provide a natural and effective way for representing indeterminate situations which are pervasive in commonsense reasoning. Ordering based decision making is then to find the suitable method for evaluating candidates or ranking alternatives based on provided ordinal information and criteria, and this in many cases is to rank alternatives based on qualitative ordering information. In this paper, we discuss the importance and research aspects of ordering based decision making, and review the existing ordering based decision making theories and methods along with some future research directions

Archimedean copulas derived from Morgenstern utility functions

The (additive) generator of an Archimedean copula - as well as the inverse of the generator - is a strictly decreasing and convex function, while Morgenstern utility functions (applying to risk averse decision makers) are nondecreasing and concave. This provides a basis for deriving either a generator of Archimedean copulas, or its inverse, from a Morgenstern utility function. If we derive the generator in this way, dependence properties of an Archimedean copula that are often taken to be desirable, match with generally sought after properties of the corresponding utility function. It is shown how well known copula families are derived from established utility functions. Also, some new copula families are derived, and their properties are discussed. If, on the other hand, we instead derive the inverse of the generator from the utility function, there is a link between the magnitude of measures of risk attitude (like the very common Arrow-Pratt coefficient of absolute risk aversion) and the strength of dependence featured by the corresponding Archimedean copula

Social Preferences and the Third Sector: Looking for a Microeconomic Foundation of the Local Development Path

The aim of the paper is to endorse the principle, recurrent in non-profit literature, that the third sector is an institution that supports the development process of economic systems. The third sector is considered as an institution that âÃÂÃÂfavors, transmits and cementsâÃÂàthe role of social preferences in a given economy and, in this way, it contributes to development. The paper thus considers two stances taken up in economic theory: (i) the theory of social preferences; (ii) the modern theory of development. These two stances do not exclusively and specifically refer to the third sector, and they generally follow parallel paths, rarely being aware of each other: in the paper, the third sector is assumed to form a bridge between them in that social preferences are supposed to be one of the driving forces in the change process of an economy.endogenous social preferences; third sector; local development

The 'childcare champion'? New Labour, social justice and the childcare market

Childcare as a policy issue has received unprecedented attention under New Labour, through various aspects of The National Childcare Strategy introduced in 1998. This policy focus looks set to continue, with childcare likely to be a major topic in the next manifesto. Early Years care and education is a productive area for New Labour as initiatives here can address several agendas: increasing social inclusion, revitalizing the labour market, and raising standards in education. The provision of childcare is seen as having the potential to bring women back into the workforce, modelling childrearing skills to parents understood as being in need of such support, and giving children the skills and experience they need to succeed in compulsory education. The existing market in childcare is a largely private sector one with the government recently introducing tax credits designed to make childcare more affordable and accessible to lower income parents. This paper draws on material gathered during a two year ESRC funded project looking at the choice and provision of childcare in London. It argues firstly that social justice in childcare is currently understood to be primarily a matter of access, and secondly demonstrates that even for privileged middle class consumers, the childcare market is a very ‘peculiar’ one, especially when compared to the markets of economic theory. We conclude by commenting on the lack of parental voice shaping the future direction and development of the childcare market

Food neophobia and mealtime food consumption in 4-5 year old children.

Background: Previous research has documented a negative association between maternal report of child food neophobia and reported frequency of consumption of fruit, vegetables, and meat. This study aimed to establish whether neophobia is associated with lower intake of these food types in naturalistic mealtime situations. Methods: One hundred and nine parents of 4–5 year olds completed questionnaires which included a six-item version of the Child Food Neophobia Scale (CFNS). The children took part in a series of 3 test lunch meals at weekly intervals at school at which they were presented with: chicken, cheese, bread, cheese crackers, chocolate biscuits, grapes and tomatoes or carrot sticks. Food items served to each child were weighed before and after the meal to assess total intake of items in four categories: Fruit and vegetables, Protein foods, Starchy foods and Snack foods. Pearson Product Moment Correlations and independent t tests were performed to examine associations between scores on the CFNS and consumption during lunches. Results: Neophobia was associated with lower consumption of fruit and vegetables, protein foods and total calories, but there was no association with intake of starch or snack foods. Conclusion: These results support previous research that has suggested that neophobia impacts differentially on consumption of different food types. Specifically it appears that children who score highly on the CFNS eat less fruit, vegetables and protein foods than their less neophobic peers. Attempts to increase intake of fruit, vegetables and protein might usefully incorporate strategies known to reduce the neophobic response

Consistency based completion approaches of incomplete preference relations in uncertain decision contexts.

Uncertainty, hesitation and vagueness are inherent to human beings when articulating opinions and preferences. Therefore in decision making situations it might well be the case that experts are unable to express their opinions in an accurate way. Under these circumstances, various families of preference relations (PRs) have been proposed (linguistic, intuitionistic and interval fuzzy PRs) to allow the experts to manifest some degree of hesitation when enunciating their opinions. An extreme case of uncertainty happens when an expert is unable to differentiate the degree up to which one preference is preferred to another. Henceforth, incomplete preference relations are possible. It is worth to bear in mind that incomplete information does not mean low quality information, on the contrary, in many occasions experts might prefer no to provide information in other to keep consistency. Consequently mechanism to deal with incomplete information in decision making are necessary. This contribution presents the main consistency based completion approaches to estimate incomplete preference values in linguistic, intuitionistic and interval fuzzy PRs