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Departamento de Economía
Documentos de Trabajo
A Note on Bossert, Pattanaik and Xu's "Choice
Under Complete Uncertainty: Axiomatic
Characterization of Some Decision Rules"
Ritxar Arlegi
AbstractRecent work by Bossert, Pattanaik and Xu provides axiomatic characterizations ofs ome decision rules for individual decision making under complete uncertainty. This note shows that, in the case oft wo 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.
Keywords and Phrases: Complete uncertainty. Nonprobabilistic Decision
Rules.
JEL Classi·cation Number: D81
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