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A Note on Bossert, Pattanaik and Xu’s “Choice Under Complete Uncertainty: Axiomatic Characterization of Some Decision Rules”

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Abstract

Recent work by Bossert, Pattanaik and Xu provides axiomatic characterizations ofs ome decision rules for individual decision making under complete uncertainty. This note shows that, in the case oft wo of these rules, they do not satisfy one of the axioms used for their characterization. A counterexample illustrating this fact is provided, as well as an alternative way to characterize the two rules under consideration, mantaining as far as possible the original axioms proposed by Bossert, Pattanaik and Xu.

Suggested Citation

  • Ritxar Arlegi, 2002. "A Note on Bossert, Pattanaik and Xu’s “Choice Under Complete Uncertainty: Axiomatic Characterization of Some Decision Rules”," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0202, Departamento de Economía - Universidad Pública de Navarra.
    • Handle: RePEc:nav:ecupna:0202
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    1. Prasanta K. Pattanaik & Yongsheng Xu & Walter Bossert, 2000. "Choice under complete uncertainty: axiomatic characterizations of some decision rules," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 16(2), pages 295-312.
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    More about this item

    Keywords

    Complete uncertainty. Nonprobabilistic Decision Rules;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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