Indifference, indecision, and coin-flipping

Daniel Mc Kiernan

Journal of Mathematical Economics, 2012, vol. 48, issue 4, 237-246

Abstract: This article operationalizes a non-empty relation as implied if strict preference and indifference jointly do not completely order the choice set. Specifically, indecision is operationalized as a positive preference for delegating choice to a least predictable device.

Keywords: Incomplete preferences; Indifference; Indecision; Entropy (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:48:y:2012:i:4:p:237-246

DOI: 10.1016/j.jmateco.2012.05.006

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