We investigate the classical AnscombeāAumann model of decisionāmaking under uncertainty without the completeness axiom. We distinguish between the dual traits of āindecisiveness in beliefsā and āindecisiveness in tastes.ā The former is captured by the Knightian uncertainty model, the latter by the singleāprior expected multiāutility model. We characterize axiomatically the latter model. Then we show that, under independence and continuity, these two models can be jointly characterized by means of a partial completeness property.
MLA
Ok, Efe A., et al. āIncomplete Preferences Under Uncertainty: Indecisiveness in Beliefs versus Tastes.ā Econometrica, vol. 80, .no 4, Econometric Society, 2012, pp. 1791-1808, https://doi.org/10.3982/ECTA8040
Chicago
Ok, Efe A., Pietro Ortoleva, and Gil Riella. āIncomplete Preferences Under Uncertainty: Indecisiveness in Beliefs versus Tastes.ā Econometrica, 80, .no 4, (Econometric Society: 2012), 1791-1808. https://doi.org/10.3982/ECTA8040
APA
Ok, E. A., Ortoleva, P., & Riella, G. (2012). Incomplete Preferences Under Uncertainty: Indecisiveness in Beliefs versus Tastes. Econometrica, 80(4), 1791-1808. https://doi.org/10.3982/ECTA8040
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