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between axioms of decision theory: consistency and preference axioms. We argue that this distinction has been overlooked by … the literature and, as a result, evidence that consistency is a proxy of decision-making ability is often based on … incorrect identification strategies. We conduct an experiment to investigate the factors that drive violations of consistency …
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We study the problem of elicitation of subjective beliefs of an agent when the beliefs are ambiguous (the set of beliefs is a non-singleton set) and the agent's preference exhibits ambiguity aversion; in particular, as represented by alpha-maxmin preferences. We construct a direct revelation...
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Beliefs are intuitive if they rely on associative memory, which can be described as a network of associations between events. A belief-theoretic characterization of the model is provided, its uniqueness properties are established, and the intersection with the Bayesian model is characterized....
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