NDLI: Scale construction from a decisional viewpoint

Content Provider	Springer Nature Link
Author	Smithson, Michael
Copyright Year	2006
Abstract	Many quantitative scales are constructed using cutoffs on a continuum with scores assigned to the cutoffs. This paper develops a framework for using or constructing such scales from a decision-making standpoint. It addresses questions such as: How many distinct thresholds or cutoffs on a scale (i.e., what levels of granularity) are useful for a rational agent? Where should these thresholds be placed given a rational agent’s preferences and risk-orientation? Do scale score assignments have any bearing on decision-making and if so, how should scores be assigned? Given two possible states of nature $$\{A, \sim A\}$$ , an ordered collection of alternatives $$\{R_{0}, R_{1},{\ldots}, R_{K}\}$$ from which one is to be selected depending on the probability that A is the case, a simple expected utility condition stipulates when adjacent alternatives are distinguishable and determines the threshold odds separating them. Threshold odds and utilities are mapped onto scale scores via a simple distance model. The placement of the thresholds reflects relative concern over decisional consequences given A versus consequences given ∼ A. Likewise, it is shown that scale scores reflect risk-aversion or risk-seeking not only with respect to A versus ∼ A but also with respect to the rank of the R $_{ j }$. Connections are drawn between this framework and rank-dependent expected utility (RDEU) theory. Implications are adumbrated for both machine and human decision-making.
Starting Page	339
Ending Page	364
Page Count	26
File Format	PDF
ISSN	09246495
Journal	Minds and Machines
Volume Number	16
Issue Number	3
e-ISSN	15728641
Language	English
Publisher	Kluwer Academic Publishers
Publisher Date	2006-09-30
Publisher Place	Dordrecht
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Measurement Expected utility Scale construction Granularity Decision Uncertainty Systems Theory, Control Interdisciplinary Studies Philosophy of Mind Artificial Intelligence (incl. Robotics)
Content Type	Text
Resource Type	Article
Subject	Philosophy Artificial Intelligence

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