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Indifference, indecision, and coin-flipping

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  • Mc Kiernan, Daniel Kian

Abstract

This article operationalizes a non-empty relation as implied if strict preference and indifference jointly do not completely order the choice set. Specifically, indecision is operationalized as a positive preference for delegating choice to a least predictable device.

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File URL: http://www.sciencedirect.com/science/article/pii/S0304406812000407
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Bibliographic Info

Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 48 (2012)
Issue (Month): 4 ()
Pages: 237-246

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Handle: RePEc:eee:mateco:v:48:y:2012:i:4:p:237-246

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Web page: http://www.elsevier.com/locate/jmateco

Related research

Keywords: Incomplete preferences; Indifference; Indecision; Entropy;

References

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  1. Eric Danan & Anthony Ziegelmeyer, 2006. "Are preferences complete? An experimental measurement of indecisiveness under risk," Papers on Strategic Interaction 2006-01, Max Planck Institute of Economics, Strategic Interaction Group.
  2. Dubra, Juan & Maccheroni, Fabio & Ok, Efe A., 2004. "Expected utility theory without the completeness axiom," Journal of Economic Theory, Elsevier, vol. 115(1), pages 118-133, March.
  3. Juan Dubra & Fabio Maccheroni & Efe A. Ok, 2004. "Expected Utility Without the Completeness Axiom," Yale School of Management Working Papers ysm404, Yale School of Management.
  4. Eliaz, Kfir & Ok, Efe A., 2006. "Indifference or indecisiveness? Choice-theoretic foundations of incomplete preferences," Games and Economic Behavior, Elsevier, vol. 56(1), pages 61-86, July.
  5. Mandler, Michael, 2005. "Incomplete preferences and rational intransitivity of choice," Games and Economic Behavior, Elsevier, vol. 50(2), pages 255-277, February.
  6. Mandler, Michael, 2009. "Indifference and incompleteness distinguished by rational trade," Games and Economic Behavior, Elsevier, vol. 67(1), pages 300-314, September.
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