The impartial observer under uncertainty

Berens S, Chochua L (2017) Center for Mathematical Economics Working Papers; 576.
Bielefeld: Center for Mathematical Economics.

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Diskussionspapier | Veröffentlicht | Englisch
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Abstract / Bemerkung
This paper extends Harsanyi’s Impartial Observer Theorem by introducing Knightian Uncertainty in the form of individual belief systems. It features an axiomatic framework of societal decision-making in the presence of individual uncertainty. The model allows the analysis of scenarios where individuals agree on the ranking but not on the likelihood of social outcomes. The preferences of the impartial observer are represented by a weighted sum of utilities - each representing individual preferences with different belief systems. In order to incorporate common criticism of the framework of Harsanyi (1953), our approach is based on the generalized version by Grant et al. (2010). The belief systems are introduced as second-order beliefs following Seo (2009).
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Berens S, Chochua L. The impartial observer under uncertainty. Center for Mathematical Economics Working Papers. Vol 576. Bielefeld: Center for Mathematical Economics; 2017.
Berens, S., & Chochua, L. (2017). The impartial observer under uncertainty (Center for Mathematical Economics Working Papers, 576). Bielefeld: Center for Mathematical Economics.
Berens, S., and Chochua, L. (2017). The impartial observer under uncertainty. Center for Mathematical Economics Working Papers, 576, Bielefeld: Center for Mathematical Economics.
Berens, S., & Chochua, L., 2017. The impartial observer under uncertainty, Center for Mathematical Economics Working Papers, no.576, Bielefeld: Center for Mathematical Economics.
S. Berens and L. Chochua, The impartial observer under uncertainty, Center for Mathematical Economics Working Papers, vol. 576, Bielefeld: Center for Mathematical Economics, 2017.
Berens, S., Chochua, L.: The impartial observer under uncertainty. Center for Mathematical Economics Working Papers, 576. Center for Mathematical Economics, Bielefeld (2017).
Berens, Stefan, and Chochua, Lasha. The impartial observer under uncertainty. Bielefeld: Center for Mathematical Economics, 2017. Center for Mathematical Economics Working Papers. 576.
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2017-08-10T07:33:11Z

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