Cumulative Dominance and Probabilistic Sophistication
| Authors |
|
|---|---|
| Publication date | 2000 |
| Journal | Mathematical Social Sciences |
| Volume | Issue number | 10 |
| Pages (from-to) | 191-196 |
| Organisations |
|
| Abstract | Machina & Schmeidler (Econometrica, 60, 1992) 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. |
| Document type | Article |
| Permalink to this page | |