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dc.contributor.authorPUPPE, Clemens
dc.contributor.authorSCHLAG, Karl H.
dc.date.accessioned2011-04-19T12:49:16Z
dc.date.available2011-04-19T12:49:16Z
dc.date.issued2009
dc.identifier.citationTheory and Decision, 2009, 66, 1, 1-16
dc.identifier.issn0040-5833
dc.identifier.urihttps://hdl.handle.net/1814/16596
dc.description.abstractOne central objection to the maximin payoff criterion is that it focuses on the state that yields the lowest payoffs regardless of how low these are. We allow different states to have different sets of possible outcomes and show that the original axioms of Milnor (1954) continue to characterize the maximin payoff criterion, provided that the sets of payoffs achievable across states overlap. If instead payoffs in some states are always lower than in all others then ignoring the bad states is no longer inconsistent with these axioms. Similar dependence on overlap of outcome spaces across states holds for the minimax regret and maximin joy criteria.
dc.language.isoen
dc.publisherSpringer
dc.subjectcomplete uncertainty
dc.subjectmaximin
dc.subjectminimax regret
dc.subjectstate-dependent outcomes
dc.titleChoice Under Complete Uncertainty When Outcome Spaces Are State Dependent
dc.typeArticle
dc.identifier.doi10.1007/s11238-007-9082-y
dc.neeo.contributorPUPPE|Clemens|aut|
dc.neeo.contributorSCHLAG|Karl H.|aut|
dc.identifier.volume66
dc.identifier.startpage1
dc.identifier.endpage16
eui.subscribe.skiptrue
dc.identifier.issue1


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