Twofold Conservatism in Choice under Uncertainty
Twofold Conservatism in Choice under Uncertainty
复制标题
不确定性下选择的双重保守主义
DOI:
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发表时间:
2021
期刊:
影响因子:
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通讯作者:
Jamie Vinson
中科院分区:
文献类型:
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作者:
F. Echenique;L. Pomatto;Jamie Vinson
Conservatism in choice under uncertainty means that a status-quo is abandoned in favor of some alternative only if it is dominated. The standard model of conservative choice introduced by Bewley (2002) introduces multiple decision criteria, and calls the status quo dominated when all criteria agree that the alternative is better than the status quo. We consider the case when multiple criteria are used to evaluate the status quo and the alternative, but cannot be used to rank them. The alternative is chosen only if it is preferable to the status quo even when the first is evaluated according to the worst-case scenario, and the second according to the best-case scenario. The resulting model is one of obvious dominance, or twofold conservatism.