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Representing Preferences with a Unique Subjective State Space: A Corrigendum -super-1

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Author Info

  • Eddie Dekel
  • Barton L Lipman
  • Aldo Rustichini
  • Todd Sarver

Abstract

Dekel, Lipman and Rustichini (2001) (henceforth DLR) axiomatically characterized three representations of preferences that allow for a desire for flexibility and/or commitment. In one of these representations (ordinal expected utility), the independence axiom is stated in a weaker form than is necessary to obtain the representation; in another (additive expected utility), the continuity axiom is too weak. In this erratum we provide examples showing that the axioms used by DLR are not sufficient, and provide stronger versions of these axioms that, together with the other axioms used by DLR, are necessary and sufficient for these two representations. Copyright The Econometric Society 2007.

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Bibliographic Info

Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 75 (2007)
Issue (Month): 2 (03)
Pages: 591-600

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Handle: RePEc:ecm:emetrp:v:75:y:2007:i:2:p:591-600

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Cited by:
  1. Karen Kaiser & Rainer Schwabe, 2011. "Preference for Variety," Working Papers 2011-13, Banco de México.
  2. Riella, Gil, 2013. "Preference for Flexibility and Dynamic Consistency," Journal of Economic Theory, Elsevier, vol. 148(6), pages 2467-2482.
  3. David Dillenberger & Juan Sebastian Lleras & Philipp Sadowski & Norio Takeoka, 2012. "A Theory of Subjective Learning," Levine's Working Paper Archive 786969000000000583, David K. Levine.
  4. David Dillenberger & Philipp Sadowski, 2011. "Subjective Learning, Second Version," PIER Working Paper Archive 12-007, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 07 Mar 2012.
  5. Barbos, Andrei, 2013. "A reference-dependent representation with subjective tastes," Journal of Mathematical Economics, Elsevier, vol. 49(2), pages 111-123.
  6. Barton L. Lipman & Wolfgang Pesendorfer, 2010. "Temptation," Boston University - Department of Economics - Working Papers Series WP2010-021, Boston University - Department of Economics.
  7. David Dillenberger & Philipp Sadowski, 2011. "Models of Subjective Learning," PIER Working Paper Archive 11-042, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  8. David Dillenberger & Philipp Sadowski & Juan Sebastian Lleras & Norio Takeoka, 2012. "A Theory of Subjective Learning," PIER Working Paper Archive 12-034, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  9. Sadowski, Philipp, 2013. "Contingent preference for flexibility: eliciting beliefs from behavior," Theoretical Economics, Econometric Society, vol. 8(2), May.
  10. Kalyan Chatterjee & R. Vijay Krishna, 2005. "Menu Choice, Environmental Cues and Temptation: A “Dual Self” Approach to Self-control," Levine's Working Paper Archive 784828000000000576, David K. Levine.
  11. Ortoleva, Pietro, 2008. "The Price of Flexibility: Towards a Theory of Thinking Aversion," MPRA Paper 12242, University Library of Munich, Germany.
  12. Hiroyuki Nakata, 2011. "Equivalent comparisons of information channels," Theory and Decision, Springer, vol. 71(4), pages 559-574, October.
  13. Todd Sarver & Haluk Ergin, 2009. "A Subjective Model of Temporal Preferences," 2009 Meeting Papers 1183, Society for Economic Dynamics.
  14. Higashi, Youichiro & Hyogo, Kazuya & Takeoka, Norio, 2009. "Subjective random discounting and intertemporal choice," Journal of Economic Theory, Elsevier, vol. 144(3), pages 1015-1053, May.
  15. Nascimento, Leandro, 2012. "The ex-ante aggregation of opinions under uncertainty," Theoretical Economics, Econometric Society, vol. 7(3), September.

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