Discussion Paper
On the Skiadas ‘Conditional Preference Approach’ to Choice Under Uncertainty
We compare the Skiadas approach with the standard Savage framework of choice under uncertainty. At first glance, properties of Skiadas “conditional preferences” such as coherence and disappointment seem analogous to similarly motivated notions of decomposability and disappointment aversion defined on Savage “ex ante preferences.” We show, however, that coherence per se places almost no restriction on the structure of ex ante preferences.