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Regular version of the site

Article

Case-Based Decision Theory: From the Choice of Actions to the Reasoning about Theories

Revue Economique. 2020. Vol. 71. No. 2. P. 283-306.
Eichberger J. T., Guerdjikova A.

In the 1990's David Schmeidler and Itzhak Gilboa initiated the study of decision making under uncertainty in a completely new framework, without states but with data sets as the information on which to build choice behavior. While the first formulations of Case-Based Decision Theory (CBDT) aimed at applications in economic decision making, this theory which takes data as a primitive concept provides an alternative foundation for deriving beliefs and driving the choice of predictions. This opened a new perspective on old questions in statistics and artificial intelligence. In this review, we summarize these developments in Case-Based Decision Theory and highlight the immensely innovative nature of David Schmeidler's academic work.