AbstractThe paper considers an agent who must choose an action today under uncertainty about the consequence of any chosen action but without having in mind a complete list of all the contingencies that could influence outcomes. She conceives of some relevant (subjective) contingencies but she is aware that these contingencies are coarse - they leave out some details that may affect outcomes. Though she may not be able to describe these finer details, she is aware that they exist and this may affect her behavior.
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Bibliographic InfoPaper provided by Collegio Carlo Alberto in its series Carlo Alberto Notebooks with number 4.
Length: 51 pages
Date of creation: 2006
Date of revision: 2007
Unforeseen Contingencies; Ambiguity; Menu Choices;
Other versions of this item:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-09-16 (All new papers)
- NEP-EVO-2006-09-16 (Evolutionary Economics)
- NEP-UPT-2006-09-16 (Utility Models & Prospect Theory)
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