Uncertainty

Michael Allingham
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Michael Allingham: Magdalen College

Chapter 2 in Rational Choice, 1999, pp 31-52 from Palgrave Macmillan

Abstract: Abstract We address the problem of choice under uncertainty as a generalisation of the problem of pure choice. We start with the case where there are some given objective probabilities: we set out the problem, propose a definition of rationality and provide a characterisation of the choice rules which are rational. We then extend the discussion, less formally, to the case where such probabilities are not given.

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14936-0_3

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DOI: 10.1007/978-1-349-14936-0_3

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