Summary.
Recent work by Bossert, Pattanaik and Xu provides axiomatic characterizations of some decision rules for individual decision making under complete uncertainty. This note shows that, in the case of two of these rules, they do not satisfy one of the axioms used for their characterization. A counterexample illustrating this fact is provided, as well as an alternative way to characterize the two rules under consideration, mantaining as far as possible the original axioms proposed by Bossert, Pattanaik and Xu.
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Received: November 3, 2000; revised version: March 1, 2002
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ID="*" I am grateful for the encouragement and support of Professor Prasanta Pattanaik. I thank also the suggestions of two anonymous referees. This work was made during an academic visit to the Department of Economics of the University of California in Riverside (UCR). The visit was possible thanks to an invitation by the UCR and the financial support of the Public University of Navarra, the Government of Navarra, and the CICYT (SEC96-0858).
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Arlegi, R. A note on Bossert, Pattanaik and Xu's “Choice under complete uncertainty: axiomatic characterization of some decision rules”. Econ Theory 22, 219–225 (2003). https://doi.org/10.1007/s00199-002-0270-2
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DOI: https://doi.org/10.1007/s00199-002-0270-2