Decision-making under ignorance with implications for social choice |
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Authors: | Eric Maskin |
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Affiliation: | (1) Massachusetts Institute of Technology, USA |
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Abstract: | ![]() A new investigation is launched into the problem of decision-making in the face of complete ignorance , and linked to the problem of social choice. In the first section the author introduces a set of properties which might characterize a criterion for decision-making under complete ignorance. Two of these properties are novel: independence of non-discriminating states , and weak pessimism . The second section provides a new characterization of the so-called principle of insufficient reason. In the third part, lexicographic maximin and maximax criteria are characterized. Finally, the author's results are linked to the problem of social choice. |
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Keywords: | |
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