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On Freedom of Choice, Ambiguity, and the Preference for Easy Choices

This 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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File URL: ftp://ftp.econ.unavarra.es/pub/DocumentosTrab/DT0607.PDF
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Paper 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.

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Length: pages
Date of creation: 2006
Date of revision:
Publication status: Published in
Handle: RePEc:nav:ecupna:0607
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  1. W. Pesendorfer & F. Gul, 1999. "Self-Control and the Theory of Consumption," Princeton Economic Theory Papers 99f2, Economics Department, Princeton University.
  2. BARBERA, Salvador & BOSSERT, Walter & PATTANAIK, Prasanta K., 2001. "Ranking Sets of Objects," Cahiers de recherche 2001-02, Universite de Montreal, Departement de sciences economiques.
  3. Loomes, Graham & Sugden, Robert, 1986. "Disappointment and Dynamic Consistency in Choice under Uncertainty," Review of Economic Studies, Wiley Blackwell, vol. 53(2), pages 271-82, April.
  4. Prasanta K. Pattanaik & Yongsheng Xu,, . "On Diversity and Freedom of Choice," Discussion Papers 97/18, University of Nottingham, School of Economics.
  5. Borm, P.E.M. & Dimitrov, D.A. & Hendrickx, R.L.P., 2004. "Good and bad objects : The symmetric difference rule," Other publications TiSEM ae319b57-4686-4002-867c-5, Tilburg University, School of Economics and Management.
  6. Bossert, W., 1994. "Opportunity Sets and Individual Well-Being," Working Papers 9414, University of Waterloo, Department of Economics.
  7. W. Pesendorfer & F. Gul, 1999. "Temptation and Self-Control," Princeton Economic Theory Papers 99f1, Economics Department, Princeton University.
  8. Bossert, Walter, 2000. "Opportunity sets and uncertain consequences1," Journal of Mathematical Economics, Elsevier, vol. 33(4), pages 475-496, May.
  9. Jones, Peter & Sugden, Robert, 1982. "Evaluating choice," International Review of Law and Economics, Elsevier, vol. 2(1), pages 47-65, June.
  10. repec:ebl:ecbull:v:4:y:2004:i:11:p:1-7 is not listed on IDEAS
  11. Gul, Faruk, 1991. "A Theory of Disappointment Aversion," Econometrica, Econometric Society, vol. 59(3), pages 667-86, May.
  12. Tversky, Amos & Kahneman, Daniel, 1986. "Rational Choice and the Framing of Decisions," The Journal of Business, University of Chicago Press, vol. 59(4), pages S251-78, October.
  13. Bossert Walter & Pattanaik Prasanta K. & Xu Yongsheng, 1994. "Ranking Opportunity Sets: An Axiomatic Approach," Journal of Economic Theory, Elsevier, vol. 63(2), pages 326-345, August.
  14. Simonson, Itamar, 1989. " Choice Based on Reasons: The Case of Attraction and Compromise Effects," Journal of Consumer Research, University of Chicago Press, vol. 16(2), pages 158-74, September.
  15. repec:ner:tilbur:urn:nbn:nl:ui:12-141882 is not listed on IDEAS
  16. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-24, December.
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