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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© 1999 Michael Allingham
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Allingham, M. (1999). Uncertainty. In: Rational Choice. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-14936-0_3
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DOI: https://doi.org/10.1007/978-1-349-14936-0_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-14938-4
Online ISBN: 978-1-349-14936-0
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