On Freedom of Choice, Ambiguity, and the Preference for Easy Choices
AbstractThis paper is devoted to the study of opportunity set comparisons when the characteristics of the options within the sets in question may be ambiguous. We assume that agents display a preference for freedom of choice, but also aversion to the presence of ambiguous options. We propose a suitable environment for approaching this problem, and provide axiomatic characterizations of several rules for ranking sets in such a context.
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Bibliographic InfoPaper provided by Departamento de Economía - Universidad Pública de Navarra in its series Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra with number 0607.
Date of creation: 2006
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Publication status: Published in
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Find related papers by JEL classification:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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