Probabilistic sophistication without completeness

B-Tier
Journal: Journal of Mathematical Economics
Year: 2020
Volume: 89
Issue: C
Pages: 8-13

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

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

Abstract

This is a study of probabilistically sophisticated choice behavior when the preference relation is incomplete. Invoking the analytical framework of Anscombe and Aumann (1963) and building on the work of Machina and Schmeidler (1995), the paper provides an axiomatic characterization of the general multi-prior multi-utility probabilistically sophisticated representation. In addition, the paper examines the axiomatic foundations for two special cases: complete beliefs and complete tastes. In the former case, the incompleteness is due to ambiguous tastes and in latter case it is due to ambiguous beliefs.

Technical Details

RePEc Handle
repec:eee:mateco:v:89:y:2020:i:c:p:8-13
Journal Field
Theory
Author Count
1
Added to Database
2026-01-25