Search Results - subject:"Incomplete preferences"

Efficient allocations and Equilibria with short-selling and Incomplete Preferences

Dana, Rose-Anne; Van, Cuong Le - HAL - 2014

unbounded below under the assumption that agents have incomplete preferences. It is motivated by an example in the theory of … assets with short-selling where there is risk and ambiguity. Agents have Bewley's incomplete preferences. As an inertia … is an equilibrium to exist. The paper then turns to incomplete preferences represented by a family of concave utility …

Persistent link: https://www.econbiz.de/10011025685

Harsanyi's aggregation theorem with incomplete preferences

Danan, Eric; Gajdos, Thibault; Tallon, Jean-Marc - HAL - 2014

We provide a generalization of Harsanyi (1955)'s aggregation theorem to the case of incomplete preferences at the …

Persistent link: https://www.econbiz.de/10011025731

Confidence as a Source of Deferral

Hill, Brian - HEC Paris (École des Hautes Études Commerciales) - 2014

One apparent reason for deferring a decision – abstaining from choosing, leaving the decision open to be taken by someone else, one’s later self, or nature – is for lack of sufficient confidence in the relevant beliefs. This paper develops an axiomatic theory of decision in situations...

Persistent link: https://www.econbiz.de/10011147719

Familiarity breeds completeness

Karni, Edi - In: Economic Theory 56 (2014) 1, pp. 109-124

This is a study of the representations of subjective expected utility preferences that admit state-dependent incompleteness, and subjective expected utility preferences displaying non-comparability of acts from distinct sources. The notions familiar events and sources are defined and...

Persistent link: https://www.econbiz.de/10010793942

Familiarity breeds completeness

Karni, Edi - In: Economic theory : official journal of the Society for … 56 (2014) 1, pp. 109-124

Persistent link: https://www.econbiz.de/10010344329

Decision theory for agents with incomplete preferences

Bales, Adam; Cohen, Daniel; Handfield, Toby - Volkswirtschaftliche Fakultät, … - 2013

will have incomplete preferences. According to standard treatments, rationality requires complete preferences, so such … agents are irrational. Experience shows, however, that incomplete preferences are ubiquitous in ordinary life. In this paper …-vacuously to agents with incomplete preferences, and (2) to identify one substantive criterion that any such non-standard decision …

Persistent link: https://www.econbiz.de/10011108437

Preferences With Grades of Indecisiveness

Minardi, Stefania; Savochkin, Andrei - Collegio Carlo Alberto, Università degli Studi di Torino - 2013

Departing from the traditional approach to modeling an agent who finds it difficult to make clear-cut comparisons between alternatives, we introduce the notion of graded preferences: Given two alternatives, the agent reports a number between 0 and 1, which reflects her inclination to prefer the...

Persistent link: https://www.econbiz.de/10011188895

Intertemporal Equilibria with Knightian uncertainty

Dana, Rose-Anne; Riedel, Franck - HAL - 2013

We study a dynamic and infinite-dimensional model with incomplete multiple prior preferences. In interior efficient allocations, agents share a common risk-adjusted prior and subjective interest rate. Interior efficient allocations and equilibria coincide with those of economies with subjective...

Persistent link: https://www.econbiz.de/10010734228

Intertemporal equilibria with Knightian Uncertainty

Dana, Rose-Anne; Riedel, Frank - Institut de Préparation à l'Administration et à la … - 2013

We study a dynamic and infinite{dimensional model with incomplete multiple prior preferences. In interior efficient allocations, agents share a common risk{adjusted prior and subjective interest rate. Interior efficient allocations and equilibria coincide with those of economies with subjective...

Persistent link: https://www.econbiz.de/10010860446

Intertemporal equilibria with Knightian uncertainty

Riedel, Frank; Dana, Rose-Anne - Université Paris-Dauphine (Paris IX) - 2013

We study a dynamic and infinite–dimensional model with incomplete multiple prior preferences. In interior efficient allocations, agents share a common risk–adjusted prior and subjective interest rate. Interior efficient allocations and equilibria coincide with those of economies with...

Persistent link: https://www.econbiz.de/10011171623