UNDERSTANDING PREFERENCE IMPRECISION

Oben K. Bayrak,J. Hey

Published 2019 in Journal of economic surveys (Print)

ABSTRACT

The term ‘preference imprecision’ seems to have different meanings to different people. In the literature, one can find references to a number of expressions. For example: vagueness, incompleteness, randomness, unsureness, indecisiveness and thick indifference curves. Some of these are theoretical constructs, some are empirical. The purpose of this paper is to survey the various different approaches and to try to link them together: to see if they are all addressed to the same issue, and to come to some conclusions. In the course of this survey, we report on evidence concerning the existence of preference imprecision, and its impact on theoretical and empirical work.

PUBLICATION RECORD

  • Publication year

    2019

  • Venue

    Journal of economic surveys (Print)

  • Publication date

    2019-01-28

  • Fields of study

    Economics, Psychology

  • Identifiers
  • External record

    Open on Semantic Scholar

  • Source metadata

    Semantic Scholar

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REFERENCES

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