2014/07/03 by Ekaterina Svetlova, Svetlova, Ekaterina, Henk van Elst +1
Computer Science · Decision Sciences · Economics, Econometrics and Finance · #Artificial Intelligence (cs.AI) #Decision-Making and Behavioral Economics #FOS: Computer and information sciences #FOS: Economics and business #General Finance (q-fin.GN) #cs.AI #q-fin.GN
paper · pdf · doi:10.48550/arxiv.1407.0787
13 pages, LaTeX2e, hyperlinked references. To appear in "Routledge International Handbook of Ignorance Studies," edited by Matthias Groß and Linsey McGoey (London: Routledge), due to be published in February 2015
arxiv created 2014/07/03 · openalex publication_date 2014/07/03 · arxiv updated 2014/07/04 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
We review two strands of conceptual approaches to the formal representation of a decision maker's non-knowledge at the initial stage of a static one-person, one-shot decision problem in economic theory. One focuses on representations of non-knowledge in terms of probability measures over sets of mutually exclusive and exhaustive consequence-relevant states of Nature, the other deals with unawareness of potentially important events by means of sets of states that are less complete than the full set of consequence-relevant states of Nature. We supplement our review with a brief discussion of unresolved matters in both approaches.