Note—Does Rolling Back Decision Trees Really Require the Independence Axiom?
Management Science · 1987 · Volume 33 · Issue 6
Abstract
In a recent article, LaValle and Wapman argue that the recursion analysis of decision trees in extensive form requires the Herstein-Milnor independence axiom. I claim that most extensive form analyses are perfectly proper in the absence of independence, but that the transformation from extensive to normal form is impermissible.
Keywords
decision analysis foundations, independence axiom, sure thing principle
Enable JavaScript for citation tools and additional paper interactions.