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• W1495063560 abstract "This paper contributes to a theory of rational choice under uncertainty for decision-makers whose preferences are exhaustively described by partial orders representing limited information. Specifically, we consider the limiting case of Complete Ignorance decision problems characterized by maximally incomplete preferences and important primarily as reduced forms of general decision problems under uncertainty. Rationality is conceptualized in terms of a Principle of Preference-Basedness, according to which rational choice should be isomorphic to asserted preference. The main result characterizes axiomatically a new choice-rule called Simultaneous Expected Utility Maximization which in particular satisfies a choice-functional independence and a context-dependent choice-consistency condition; it can be interpreted as the fair agreement in a bargaining game (Kalai-Smorodinsky solution) whose players correspond to the different possible states (respectively external priors in the general case)." @default.
• W1495063560 created "2016-06-24" @default.
• W1495063560 creator A5023819745 @default.
• W1495063560 date "1997-01-01" @default.
• W1495063560 modified "2023-09-26" @default.
• W1495063560 title "A Theory of Rational Choice Under Complete Ignorance" @default.
• W1495063560 cites W1581900537 @default.
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• W1495063560 hasPublicationYear "1997" @default.
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