Alpha-maxmin as an aggregation of two selves

Article dans une revue: This paper offers a novel perspective on the -maxmin model, taking its components as originating from distinct selves within the decision maker. Drawing from the notion of multiple selves prevalent in inter-temporal decision-making contexts, we present an aggregation approach where each self possesses its own preference relation. Contrary to existing interpretations, these selves are not merely a means to interpret the decision maker’s overall utility function but are considered as primitives. Through consistency requirements, we derive an -maxmin representation as an outcome of a convex combination of the preferences of two distinct selves. We first explore a setting involving objective information and then move on to a fully subjective derivation.

Auteur(s)

Alain Chateauneuf, José Heleno Faro, Jean-Marc Tallon, Vassili Vergopoulos

Revue
  • Journal of Mathematical Economics
Date de publication
  • 2024
Mots-clés
  • Maxmin
  • Dual self
  • Aggregation
Pages
  • 103006
Version
  • 1
Volume
  • 113