Abstract

I study incomplete preferences as a means to represent indecisiveness. A decomposition into maximal domains of comparability is characterized and used to link optimization of incomplete preferences with maximization of local utility functions. Larger maximal domains are shown to correspond to more decisive preferences. The decomposition can be uniquely recovered from choice data under standard assumptions. Applications to different models within decision theory are discussed.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.