Justifiable preferences

A-Tier
Journal: Journal of Economic Theory
Year: 2011
Volume: 146
Issue: 2
Pages: 762-774

Authors (2)

Lehrer, Ehud (not in RePEc) Teper, Roee (University of Pittsburgh)

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

We characterize preferences over acts that can be represented by a utility function and a multiple-prior, such that an act f is preferred to act g if there is a prior under which the expected utility induced by f is higher than that induced by g. These preferences are referred to as justifiable preferences. We further introduce a generalized model of ambiguity that involves a collection of multiple-priors, namely, multiple multiple-priors and incorporate Bewley[modifier letter apostrophe]s Knightian model in justifiability: f is preferred to g if, according to at least one set of priors, f is unanimously preferred to g.

Technical Details

RePEc Handle
repec:eee:jetheo:v:146:y:2011:i:2:p:762-774
Journal Field
Theory
Author Count
2
Added to Database
2026-01-29