PREFERENCES UNDER IGNORANCE

B-Tier
Journal: International Economic Review
Year: 2019
Volume: 60
Issue: 1
Pages: 241-257

Authors (2)

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

A decision maker (DM) makes choices from different sets of alternatives. The DM is initially ignorant of the payoff associated with each alternative and learns these payoffs only after a large number of choices have been made. We show that, in the presence of an outside option, once payoffs are learned, the optimal choice rule from sets of alternatives can be rationalized by a DM with strict preferences over all alternatives. Under this model, the DM has preferences for preferences while being ignorant of what preferences are “right.”

Technical Details

RePEc Handle
repec:wly:iecrev:v:60:y:2019:i:1:p:241-257
Journal Field
General
Author Count
2
Added to Database
2026-01-25