Unanimity of two selves in decision making

Pierre Bardier, Bach Dong-Xuan and Van-Quy Nguyen

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Abstract: We propose a new model of incomplete preferences under uncertainty, which we call unanimous dual-self preferences. Act f is considered more desirable than act g when, and only when, both the evaluation of an optimistic self, computed as the welfare level attained in a best-case scenario, and that of a pessimistic self, computed as the welfare level attained in a worst-case scenario, rank f above g. Our comparison criterion involves multiple priors, as best and worst cases are determined among sets of probability distributions, and is, generically, less conservative than Bewley preferences and twofold multi-prior preferences, the two ambiguity models that are closest to ours

Date: 2024-06
New Economics Papers: this item is included in nep-mic and nep-upt
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