Concepts inUniversally optimal privacy mechanisms for minimax agents
Minimax
Minimax (sometimes minmax) is a decision rule used in decision theory, game theory, statistics and philosophy for minimizing the possible loss for a worst case (maximum loss) scenario. Alternatively, it can be thought of as maximizing the minimum gain (maximin).
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Agent (economics)
In economics, an agent is an actor and decision maker in a model. Typically, every agent makes decisions by solving a well or ill defined optimization/choice problem. The term agent can also be seen as equivalent to player in game theory. For example, buyers and sellers are two common types of agents in partial equilibrium models of a single market.
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Privacy
Privacy (from Latin: privatus "separated from the rest, deprived of something, esp. office, participation in the government", from privo "to deprive") is the ability of an individual or group to seclude themselves or information about themselves and thereby reveal themselves selectively. The boundaries and content of what is considered private differ among cultures and individuals, but share basic common themes.
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Risk aversion
Risk aversion is a concept in psychology, economics, and finance, based on the behavior of humans while exposed to uncertainty. Risk aversion is the reluctance of a person to accept a bargain with an uncertain payoff rather than another bargain with a more certain, but possibly lower, expected payoff.
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Rational choice theory
Rational choice theory, also known as choice theory or rational action theory is a framework for understanding and often formally modeling social and economic behavior. It is the main theoretical paradigm in the currently-dominant school of microeconomics.
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Decision theory
Decision theory in economics, psychology, philosophy, mathematics, and statistics is concerned with identifying the values, uncertainties and other issues relevant in a given decision, its rationality, and the resulting optimal decision. It is closely related to the field of game theory as to interactions of agents with at least partially conflicting interests whose decisions affect each other.
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Rationality
In philosophy, rationality is the exercise of reason. It is the manner in which people derive conclusions when considering things deliberately. It refers to the conformity of one's beliefs with one's reasons to believe, or with one's actions with one's reasons for action. However, the term "rationality" tends to be used differently in different disciplines, including specialized discussions of economics, sociology, psychology and political science.
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Utility
In economics, utility is a representation of preferences over some set of goods and services. Preferences have a utility representation so long as they are transitive, complete, and continuous. Utility is usually applied by economists in such constructs as the indifference curve, which plot the combination of commodities that an individual or a society would accept to maintain a given level of satisfaction.
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