Utility in case-based decision theory

Itzhak Gilboa*, David Schmeidler, Peter P. Wakker

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review


This paper provides two axiomatic derivations of a case-based decision rule. Each axiomatization shows that, if preference orders over available acts in various contexts satisfy certain consistency requirements, then these orders can be numerically represented by maximization of a similarity-weighted utility function. In each axiomatization, both the similarity function and the utility function are simultaneously derived from preferences, and the axiomatic derivation also suggests a way to elicit these theoretical concepts from in-principle observable preferences. The two axiomatizations differ in the type of decisions that they assume as data. Journal of Economic Literature Classification Number: D80.

Original languageEnglish
Pages (from-to)483-502
Number of pages20
JournalJournal of Economic Theory
Issue number2
StatePublished - Aug 2002


  • Case-based decision theory
  • Decision under uncertainty


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