## Min-max decision rules for choice under complete uncertainty: Axiomatic characterizations for preferences over utility intervals

- Jürgen Landes
- Int. J. Approx. Reasoning
- 2014

1 Excerpt

- Published 1989

This overview focuses on lexicographic choice under conditions of uncertainty. First, lexicographic versions of traditional (von Neumann-Morgenstern) expected utility theory are described where the usual Archimedean axiom is weakened. The role of these lexicographic variants in explaining some well-known “paradoxes” of choice theory is reviewed. Next, the significance of lexicographic choice for game theory is discussed. Finally, some lexicographic extensions of the classical maximin decision rule are described.

@inproceedings{Blume1989AnOO,
title={An Overview of Lexicographic Choice Under Uncertainty},
author={Lawrence E. Blume and Adam Brandenburger and Eddie Dekel},
year={1989}
}