The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Mar, 2010, Volume 78, Issue 2
https://doi.org/10.3982/ECTA8223
p. 755-770
Itzhak Gilboa, Fabio Maccheroni, Massimo Marinacci, David Schmeidler
A decision maker (DM) is characterized by two binary relations. The first reflects choices that are rational in an “objective” sense: the DM can convince others that she is right in making them. The second relation models choices that are rational in a “subjective” sense: the DM cannot be convinced that she is wrong in making them.
