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One apparent reason for deferring a decision – abstaining from choosing, leaving the decision open to be taken by … an axiomatic theory of decision in situations where a costly deferral option is available that captures this source of …
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This handbook chapter covers the existing theoretical literature on social preference and social welfare under risk (i.e., when probability values enter the data of the situation) and uncertainty (i.e., when this is not the case and only subjective probability assessments can be formed). Section...
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