Preferences under ignorance

Gossner O, Kuzmics C (2015) Center for Mathematical Economics Working Papers; 546.
Bielefeld: Center for Mathematical Economics.

Diskussionspapier | Veröffentlicht| Englisch
 
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Autor/in
Gossner, Olivier; Kuzmics, ChristophUniBi
Abstract / Bemerkung
A decision maker (DM) makes choices from di erent sets of alternatives. The DM is initially fully ignorant of the payo associated to each alternative, and learns these payo s only after a large number of choices have been made. We show that, in the presence of an outside option once payo s are learned, the optimal choice rule from sets of alternatives is one that is as if the DM had strict preferences over all alternatives. Under this model, the DM has preferences for preferences while being ignorant of what preferences are \right".
Stichworte
consistency; strict preference; rationality; weak axiom of revealed preferences
Erscheinungsjahr
2015
Band
546
Seite(n)
25
ISSN
0931-6558
Page URI
https://pub.uni-bielefeld.de/record/2775892

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Gossner O, Kuzmics C. Preferences under ignorance. Center for Mathematical Economics Working Papers. Vol 546. Bielefeld: Center for Mathematical Economics; 2015.
Gossner, O., & Kuzmics, C. (2015). Preferences under ignorance (Center for Mathematical Economics Working Papers, 546). Bielefeld: Center for Mathematical Economics.
Gossner, O., and Kuzmics, C. (2015). Preferences under ignorance. Center for Mathematical Economics Working Papers, 546, Bielefeld: Center for Mathematical Economics.
Gossner, O., & Kuzmics, C., 2015. Preferences under ignorance, Center for Mathematical Economics Working Papers, no.546, Bielefeld: Center for Mathematical Economics.
O. Gossner and C. Kuzmics, Preferences under ignorance, Center for Mathematical Economics Working Papers, vol. 546, Bielefeld: Center for Mathematical Economics, 2015.
Gossner, O., Kuzmics, C.: Preferences under ignorance. Center for Mathematical Economics Working Papers, 546. Center for Mathematical Economics, Bielefeld (2015).
Gossner, Olivier, and Kuzmics, Christoph. Preferences under ignorance. Bielefeld: Center for Mathematical Economics, 2015. Center for Mathematical Economics Working Papers. 546.
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2019-09-06T09:18:33Z
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