2000-09-01
Cumulative dominance and probabilistic sophistication
Publication
Publication
Mathematical Social Sciences , Volume 40 - Issue 2 p. 191- 196
Machina and Schmeidler [Econometrica, 60 (1992) 745–780] gave preference conditions for probabilistic sophistication, i.e. decision making where uncertainty can be expressed in terms of (subjective) probabilities without commitment to expected utility maximization. This note shows that simpler and more general results can be obtained by combining results from qualitative probability theory with a ‘cumulative dominance’ axiom.
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doi.org/10.1016/S0165-4896(99)00048-7, hdl.handle.net/1765/23032 | |
Mathematical Social Sciences | |
Organisation | Erasmus School of Economics |
Sarin, R., & Wakker, P. (2000). Cumulative dominance and probabilistic sophistication. Mathematical Social Sciences, 40(2), 191–196. doi:10.1016/S0165-4896(99)00048-7 |