Fuzzy Rationality, Uncertainty and Expectations
Some important questions were raised in Chapter two of [R17.24] whose answers will allow us to epistemically connect the relational structure of decision, choice, information, knowledge and rationality. It will further allow us to explicate the relationship between the Euler’s mini-max principle of universal event decision-choice rationality under various conditions of linguistic communications It was pointed out that the structure of decision-choice process depends on information and knowledge where knowledge is a derived category from characteristic-based information as the primary category of reality. The decision-choice activity is an input-output process. Information and knowledge are the driving inputs of the decision-choice actions. The same information and knowledge are the outputs of the decision-choice actions. Thus the decision-choice process presents itself as an input-output duality whose unity is information and whose conflict is knowledge. Epistemically, information is an input into reasoning while knowledge is its output; knowledge is input to decision whose output is decision rationality; decision rationality is an input to choice action and substitution-transformation is its output which then becomes input into information. The process provides us with never-ending system of information, knowledge, decision, choice, and information that spin the circle of substitution-transformation processes over the potential-actual dualities. The circular process is illustrated in Figure 1.0.1.
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