Revealed Preference and Choice under Uncertainty

Walter Bossert and Kotaro Suzumura

Cahiers de recherche from Universite de Montreal, Departement de sciences economiques

Abstract: We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be generated by the optimization of some underlying decision criterion under uncertainty. Rather than focusing on a specific theory of choice, our objective is to formulate a general approach that is designed to cover the various decision criteria that have been proposed in the literature. We use a mild dominance property to define a class of suitable choice criteria. In addition to rationalizability per se, we characterize transitive and Suzumura consistent rationalizability in the presence of dominance.

Keywords: Uncertainty; prospects; rational choice; decision theory. (search for similar items in EconPapers)
JEL-codes: D11 D81 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2010
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https://papyrus.bib.umontreal.ca/xmlui/handle/1866/4830 (application/pdf)

Related works:
Journal Article: Revealed preference and choice under uncertainty (2012)
Working Paper: Revealed Preference and Choice under Uncertainty (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:mtl:montde:2010-12

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