Coherent choice functions, desirability and indifference

Journal article (2018)

Authors

Arthur Van Camp Universiteit Gent
Gert de Cooman Universiteit Gent
Enrique Miranda Universidad de Oviedo
E. Quaeghebeur Wind Energy
Research Group
Wind Energy
Copyright: © 2018 Arthur Van Camp, Gert de Cooman, Enrique Miranda, Erik Quaeghebeur
DOI: https://doi.org/10.1016/j.fss.2017.05.019
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Published Date

15-06-2018

Language

English

Research Group

Wind Energy

Abstract

We investigate how to model indifference with choice functions. We take the coherence axioms for choice functions proposed by Seidenfeld, Schervisch and Kadane as a source of inspiration, but modify them to strengthen the connection with desirability. We discuss the properties of choice functions that are coherent under our modified set of axioms and the connection with desirability. Once this is in place, we present an axiomatisation of indifference in terms of desirability. On this we build our definition of indifference in terms of choice functions, which we discuss in some detail.

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