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• W3124219043 abstract "Complexity of the problem of choosing among uncertain acts is a salient feature of many of the environments in which departures from expected utility theory are observed. I study a class of Generalized Simple Bounds preferences in which acts that are complex from the perspective of the decision maker are bracketed by “simple” acts to which they are related by statewise dominance. I then study a refinement of the model in which the size of the partition with respect to which an act is measurable arises endogenously as a measure of subjective complexity. Finally, I consider choice behavior characterized by a “cautious completion” of Simple Bounds preferences, and discuss the relationship between this model and models of ambiguity aversion. I develop general comparative statics results, and explore applications to portfolio choice and insurance choice." @default.
• W3124219043 created "2021-02-01" @default.
• W3124219043 creator A5081825820 @default.
• W3124219043 date "2023-10-01" @default.
• W3124219043 modified "2023-10-17" @default.
• W3124219043 title "Subjective complexity under uncertainty" @default.
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• W3124219043 doi "https://doi.org/10.1016/j.mathsocsci.2023.10.001" @default.
• W3124219043 hasPublicationYear "2023" @default.
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