Subjective information in decision making and communication
pp. 49-62
in: Mohammed Abdellaoui, John D. Hey (eds), Advances in decision making under risk and uncertainty, Berlin, Springer, 2008Abstract
Luce's purpose was to argue for intransitive indifference. In what follows, I pursue a different approach. Rather than treating this student ashaving intransitive indifference, with preferences defined over objective cups of coffee, I view the student has having preferences defined over the coffee as he subjectively perceives it. To make this rigorous, I provide an axiomatic model of the student's perceptions, allowing the reader of this article to know which coffee cup the student is tasting, in order to clarify the relationship between the subjective decision problem and the objective alternatives.