Uncertainty

  • Michael Allingham

Abstract

We address the problem of choice under uncertainty as a generalisation of the problem of pure choice. We start with the case where there are some given objective probabilities: we set out the problem, propose a definition of rationality and provide a characterisation of the choice rules which are rational. We then extend the discussion, less formally, to the case where such probabilities are not given.

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Copyright information

© Michael Allingham 1999

Authors and Affiliations

  • Michael Allingham
    • 1
  1. 1.Magdalen CollegeOxfordUK

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