Axioms for minimax regret choice correspondences
type: Item
instance of: scholarly article
title: Axioms for minimax regret choice correspondences
zbMATH Open document ID: 1229.91107
author: Jörg Stoye
published in: Journal of Economic Theory
publication date: 2011-12-28T00:00:00Z
review text: This paper unifies and extends the recent axiomatic literature on minimax regret. It compares several models of minimax regret, shows how to characterize the according choice correspondences in a unified setting, extends one of them to choice from convex (through randomization) sets, and connects them by defining a behavioral notion of perceived ambiguity. Substantively, a main idea is to behaviorally identify ambiguity with failures of independence of irrelevant alternatives.
reviewed by: Annibal Parracho Sant'Anna
Mathematics Subject Classification ID: 91B06
Mathematics Subject Classification ID: 62C20
Mathematics Subject Classification ID: 91B99
zbMATH DE Number: 5992515
zbMATH Keywords: minimax regret
zbMATH Keywords: ambiguity
zbMATH Keywords: ambiguity aversion
zbMATH Keywords: multiple priors
zbMATH Keywords: choice correspondences
MaRDI profile type: Publication
full work available at URL: j.jet.2011.10.004
OpenAlex ID: W2057191893
cites work: A Definition of Subjective Probability
cites work: Competitive Stability under Weak Gross Substitutability: The "Euclidean Distance" Approach
cites work: Statistical decision theory and Bayesian analysis. 2nd ed
cites work: Knightian decision theory. I.
cites work: Q4223058
cites work: Econometrics and decision theory
cites work: Rational Selection of Decision Functions
cites work: A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox
cites work: Rational Behavior under Complete Ignorance
cites work: Robust Bayesian experimental designs in normal linear models
cites work: An axiomatic characterization of preferences under uncertainty: Weakening the independence axiom
cites work: Minimax regret analysis of orthogonal series regression estimation: selection versus shrinkage
cites work: Minimax regret comparison of hard and soft thresholding for estimating a bounded normal mean
cites work: Linear Minimax Regret Estimation of Deterministic Parameters with Bounded Data Uncertainties
cites work: Indifference or indecisiveness? Choice-theoretic foundations of incomplete preferences
cites work: Non-transitive measurable utility for decision under uncertainty
cites work: Decision making with imprecise probabilistic information
cites work: Differentiating ambiguity and ambiguity attitude
cites work: Certainty independence and the separation of utility and beliefs
cites work: Ambiguity made precise: A comparative foundation
cites work: Maxmin expected utility with non-unique prior
cites work: Are beliefs a matter of taste? A case for objective imprecise information
cites work: Temptation and Self-Control
cites work: Iterated regret minimization: a new solution concept
cites work: EXACT MEAN INTEGRATED SQUARED ERROR OF HIGHER ORDER KERNEL ESTIMATORS
cites work: Regret aversion and opportunity dependence
cites work: Stopping with anticipated regret
cites work: Context dependence and consistency in dynamic choice under uncertainty: the case of anticipated regret
cites work: An Axiomatic Approach to Measurable Utility
cites work: A Representation Theorem for "Preference for Flexibility"
cites work: Minimax-regret strategies for bargaining over several variables
cites work: Q5475044
cites work: Q5200630
cites work: Minimax-regret treatment choice with missing outcome data
cites work: Q5832743
cites work: Status quo bias, multiple priors and uncertainty aversion
cites work: Minimax regret and strategic uncertainty
cites work: Implementation in minimax regret equilibrium
cites work: Anticipating Regret: Why Fewer Options May Be Better
cites work: The Theory of Statistical Decision
cites work: Subjective Probability and Expected Utility without Additivity
cites work: Choice Functions and Revealed Preference
cites work: Ambiguity and Second-Order Belief
cites work: MINIMAX REGRET TREATMENT CHOICE WITH INCOMPLETE DATA AND MANY TREATMENTS
cites work: Minimax regret treatment choice with finite samples
cites work: Statistical decisions under ambiguity
cites work: Minimax regret treatment choice with covariates or with limited validity of experiments
cites work: An axiomatic foundation for regret theory
cites work: Nonsubjective priors via predictive relative entropy regret
cites work: Q5800557
cites work: Computing Bounds on Expectations
cites work: Q5285644
DOI: 10.1016/J.JET.2011.10.004
description: scientific article; zbMATH DE number 5992515