Extension Rules or What Would the Sage Do?

B-Tier
Journal: American Economic Journal: Microeconomics
Year: 2014
Volume: 6
Issue: 1
Pages: 5-22

Authors (2)

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

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

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

Abstract

Quite often, decision makers face choices that involve new aspects and alternatives never considered before. Scenarios of this sort may arise, for instance, as a result of technological progress or from individual circumstances such as growing awareness. In such situations, simple inference rules, past experience, and knowledge about historic choice problems may prove helpful in determining what would be a reasonable action to take vis-a-vis a new problem. In the context of decision making under uncertainty, we introduce and study an extension rule that enables the decision maker to extend a preference order defined on a restricted domain.

Technical Details

RePEc Handle
repec:aea:aejmic:v:6:y:2014:i:1:p:5-22
Journal Field
General
Author Count
2
Added to Database
2026-01-29