Lefort, Jean-Philippe; Dominiak, Adam; Dürsch, Peter - Université Paris-Dauphine (Paris IX) - 2012
Two rationality arguments are used to justify the link between conditional and unconditional preferences in decision … by up dated preferences. Consequentialism states that only those outcomes which are still possible can matter for up … dated preferences. We test the descriptive validity of these rationality arguments with a dynamic version of Ellsberg …