Econometrica, 2003-11, Vol.71 (6), p.1897-1908
2003
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Details
- Autor(en) / Beteiligte
- Titel
- A Subjective Spin on Roulette Wheels
- Ist Teil von
- Econometrica, 2003-11, Vol.71 (6), p.1897-1908
- Ort / Verlag
- Oxford, UK and Boston, USA: Blackwell Publishing Ltd
- Erscheinungsjahr
- 2003
- Quelle
- Wiley Online Library - AutoHoldings Journals
- Beschreibungen/Notizen
- We provide a simple behavioral definition of 'subjective mixture' of acts for a large class of (not necessarily expected-utility) preferences. Subjective mixtures enjoy the same algebraic properties as the 'objective mixtures' used to great advantage in the decision setting introduced by Anscombe and Aumann (1963). This makes it possible to formulate mixture-space axioms in a fully subjective setting. For illustration, we present simple subjective axiomatizations of some models of choice under uncertainty, including Bewley's model of choice with incomplete preferences (2002).
- Sprache
- Englisch
- Identifikatoren
- ISSN: 0012-9682eISSN: 1468-0262DOI: 10.1111/1468-0262.00472Titel-ID: cdi_proquest_miscellaneous_37799733
- Format
- –
- Schlagworte
- Algebra, ambiguity, Axiomatization, Axioms, Betting, Binary relations, biseparable preferences, Decision theory, Econometric models, Econometrics, Economic models, Economic theory, Economics, Expected utility, incomplete preferences, Lotteries, Mathematical models, Notes and Comments, Preferences, Probability, Roulette wheels, Studies, Subjective mixtures, Subjectivity, Topology, Uncertainty