Dominance and admissibility without priors
This note axiomatizes the incomplete preference ordering that reflects statewise dominance with respect to expected utility, as well as the according choice correspondence. The main motivation is to clarify how admissibility as understood by statisticians relates to existing axiomatizations. The answer is that it is characterized by Anscombe and Aumann’s (1963) axioms, plus symmetry (Arrow and Hurwicz, 1972), less completeness. Characterizing the according choice correspondence requires relaxing the weak axiom of revealed preference.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Itzhak Gilboa & Fabio Maccheroni & Massimo Marinacci & David Schmeidler, 2010.
"Objective and Subjective Rationality in a Multiple Prior Model,"
Econometric Society, vol. 78(2), pages 755-770, 03.
- Itzhak Gilboa & Fabio Maccheroni & Massimo Marinacci & David Schmeidler, 2008. "Objective and Subjective Rationality in a Multiple Prior Model," Carlo Alberto Notebooks 73, Collegio Carlo Alberto, revised 2008.
- Sen, Amartya K, 1969. "Quasi-Transitivity, Rational Choice and Collective Decisions," Review of Economic Studies, Wiley Blackwell, vol. 36(107), pages 381-93, July.
- 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.
- Jörg Stoye, 2011. "Statistical decisions under ambiguity," Theory and Decision, Springer, vol. 70(2), pages 129-148, February.
When requesting a correction, please mention this item's handle: RePEc:eee:ecolet:v:116:y:2012:i:1:p:118-120. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.