A theory of incomplete preferences under uncertainty is proposed, according to which a decision maker’s preferences are indeterminate if and only if her confidence in the relevant beliefs does not match up to the stakes involved in the decision. The author uses the model of confidence in...

One apparent reason for deferring a decision – abstaining from choosing, leaving the decision open to be taken by someone else, one’s later self, or nature – is for lack of sufficient confidence in the relevant beliefs. This paper develops an axiomatic theory of decision in situations...

Author's abstract: A theory of when to defer a decision is proposed, according to which a decision maker defers if and only if his confidence in the relevant beliefs does not match up to the stakes involved in the decision. It uses the model of confidence in beliefs and the notion of stakes...