Case-Based Decision Theory and Maxmin EU with Non-Unique Prior with Itzhak Gilboa

In this episode, we talk to Itzhak Gilboa, professor of Economics at the HEC Paris and Tel-Aviv University, and holder of the AXA Chair in Decision Sciences. We will talk about the contrast “expected vs. actual success” of two of his papers. “Case-Based Decision Theory” was expected to be very successful but turned out not to be. The second paper, “Maxmin Expected Utility with Non-Unique Prior” was not expected to be a big deal, but is now listed as the most cited and the most relevant paper in the Journal of Mathematical Economics. Tune in for a discussion centered around the development of the ideas, the publication process, and to learn about axiomatic decision theory.

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