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The concept of Ambiguity designates those situations where the information available to the decision maker is …? The present paper fi…lls these gaps. Speci…fically, it identifi…es those information structures that are incompatible with … information. These are used to give a formal de…finition of Ambiguity and, consequently, to distinguish between ambiguous and …
Persistent link: https://www.econbiz.de/10010927917
based on private information and incentives. …
Persistent link: https://www.econbiz.de/10005729594
We provide a survey of the literature on ranking sets of objects. The interpretations of those set ranking include those employed in the theory of choice under complete uncertianty, rankings of opportunity sets, set rankings that appear in matching theory, and the structure of assemly proferences.
Persistent link: https://www.econbiz.de/10005545637
-formulate our results in an insurance framework and extend the classical result of Arrow [4] and the more recent one of Ghossoub [24 …
Persistent link: https://www.econbiz.de/10010616508
Persistent link: https://www.econbiz.de/10005345982
Persistent link: https://www.econbiz.de/10005170681
We generalize the classical expected-utility criterion by weakening transitivity to Suzumura consistency. In the absence of full transitivity, reflexivity and completeness no longer follow as a consequence of the system of axioms employed and a richer class of rankings of probability...
Persistent link: https://www.econbiz.de/10010883523
We analyze an alternative to the standard rationalizability requirement for observed choice bu considering non-deteriorating selections.
Persistent link: https://www.econbiz.de/10005345991
we identify conditions under which preferences over sets of construction opportunities can be reduced to preferences over bundles of "commodities".
Persistent link: https://www.econbiz.de/10005346001
centralized mechanisms. We advise physicians who do not have detailed information about the rank-order lists submitted by the … other participants. We demonstrate that in each of these markets in a low information environment it is not beneficial to …
Persistent link: https://www.econbiz.de/10005353032