We provide a simple behavioral definition of 'subjective mixture'of acts for a large class of
(not necessarily expected‐utility) preferences. Subjective mixtures enjoy the same algebraic …

This paper models an agent in a three-period setting who does not update according to
Bayes' Rule and who is self-aware and anticipates her updating behaviour when formulating …

We relate the distributions induced by random sets with the distributions induced by their
measurable selections, thus providing a probabilistic foundation for viewing random sets as" …

This paper derives a representation of preferences for a choice theory with vague
environments; vague in the sense that the agent does not know the precise lotteries over …

We present an axiomatic model of preferences over menus that is motivated by three
assumptions. First, the decision maker is uncertain ex ante (ie, at the time of choosing a …

Abstract Dekel, Lipman, and Rustichini [3] characterize preferences over menus of lotteries
that can be represented by the use of a unique subjective state space and a prior. We …

A state space has been assumed as a primitive for modeling uncertainty, which presumes
that the analyst knows all the uncertainties a decision maker (DM) perceives. This is …

We introduce a framework to study individuals' behavior in environments that are
deterministic, but too complex to permit tractable deterministic representations. An agent in …

Following Kreps (1979), I consider a decision maker who is uncertain about her future taste.
This uncertainty leaves the decision maker with a preference for flexibility: When choosing …

We derive an inter-temporal theory of choice, in the spirit of Kreps and Porteus [Kreps, DM,
Porteus, EL, 1978. Temporal resolution of uncertainty and dynamic choice theory …