We propose and axiomatize a new model of incomplete preferences under uncertainty, which we call hope-and-prepare preferences. An act is considered more desirable than another when, and only when, both an optimistic evaluation, computed as the welfare level attained in a best-case scenario, and...

We propose and axiomatize a new model of incomplete preferences under uncertainty, which we call hope-and-prepare preferences. An act is considered more desirable than another when, and only when, both an optimistic evaluation, computed as the welfare level attained in a best-case scenario, and...

We develop a model of preference aggregation where people's psychological characteristics are mutable (hence, potential objects of individual or social choice), their preferences may be incomplete, and approximate interpersonal comparisons of well-being are possible. Formally, we consider...