• Corpus ID: 248862920

Revealed Incomplete Preferences

@inproceedings{Nielsen2022RevealedIP,
  title={Revealed Incomplete Preferences},
  author={Kirby Nielsen and Luca Rigotti},
  year={2022}
}
We elicit incomplete preferences over monetary gambles with subjective uncertainty. Subjects rank gambles, and these rankings are used to estimate preferences; payments are based on estimated preferences. About 40% of subjects express incompleteness, but they do so infrequently. Incompleteness is similar for individuals with precise and imprecise beliefs, and in an environment with objective uncertainty, suggesting that it results from imprecise tastes more than imprecise beliefs. When we force… 

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