Preferences with grades of indecisiveness

A-Tier
Journal: Journal of Economic Theory
Year: 2015
Volume: 155
Issue: C
Pages: 300-331

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Departing from the traditional approach of modeling indecisiveness based on the weakening of the completeness axiom, we introduce the notion of graded preferences: The agent is characterized by a binary relation over (ordered) pairs of alternatives, which allows her to express her inclination to prefer one alternative over another and her confidence in the relative superiority of the indicated alternative. In the classical Anscombe–Aumann framework, we derive a representation of a graded preference by a measure of the set of beliefs that rank one option better than the other. Our model is a refinement of Bewley's [6] model of Knightian uncertainty: It is based on the same object of representation — the set of beliefs — but provides more information about how the agent compares alternatives.

Technical Details

RePEc Handle
repec:eee:jetheo:v:155:y:2015:i:c:p:300-331
Journal Field
Theory
Author Count
2
Added to Database
2026-01-26