An action axiom is an
axiom
An axiom, postulate, or assumption is a statement that is taken to be true, to serve as a premise or starting point for further reasoning and arguments. The word comes from the Ancient Greek word (), meaning 'that which is thought worthy or ...
that embodies a criterion for describing action. Action axioms are of the form "If a condition holds, then the following will be done".
On the action axiom
Decision theory
Decision theory or the theory of rational choice is a branch of probability theory, probability, economics, and analytic philosophy that uses expected utility and probabilities, probability to model how individuals would behave Rationality, ratio ...
and, hence,
decision analysis
Decision analysis (DA) is the Academic discipline, discipline comprising the philosophy, methodology, and professional practice necessary to address important Decision making, decisions in a formal manner. Decision analysis includes many procedures ...
are based on the ''maximum
expected utility
The expected utility hypothesis is a foundational assumption in mathematical economics concerning decision making under uncertainty. It postulates that rational agents maximize utility, meaning the subjective desirability of their actions. Ratio ...
'' (MEU) action axiom. In general, the principle for action embodied by an action axiom (such as MEU) is highly defensible and its scope very broad.
The action-axiom is the basis of
praxeology
In philosophy, praxeology or praxiology (; ) is the theory of human Action (philosophy), action, based on the notion that humans engage in purposeful behavior, contrary to Reflex, reflexive behavior and other unintentional behavior.
French socia ...
in the
Austrian School
The Austrian school is a Heterodox economics, heterodox Schools of economic thought, school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivat ...
, and it is the proposition that all specimens of the species ''Homo sapiens'', the ''Homo agens'', purposely utilize means over a period of time in order to achieve desired ends. In ''
Human Action
''Human Action: A Treatise on Economics'' is a work by the Austrian economist and philosopher Ludwig von Mises. Widely considered Mises' ''magnum opus'', it presents the case for laissez-faire capitalism based on praxeology, his method to under ...
'', Ludwig von Mises defined “action” in the sense of the action axiom by elucidating:
See also
*
Norm (artificial intelligence)
Norms can be considered from different perspectives in artificial intelligence to create computers and computer software that are capable of intelligent behaviour.
In artificial intelligence and law, legal norms are considered in computational t ...
References
Expected utility
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