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Concept information

Preferred term

procedural invariance and its violations  

Definition(s)

  • Procedural invariance states that preferences over prospects (i.e., gambles, or any other risky states that can be described as a probability p of getting outcome/payoff x) are independent of the method used to elicit them. In other words, procedural invariance, an important pillar of rational choice, demands that strategically equivalent methods of elicitation will give rise to the same preference order. [Source: Encyclopedia of Medical Decision Making; Procedural Invariance and Its Violations]

Belongs to group

URI

http://data.loterre.fr/ark:/67375/N9J-WB1C6VS6-J

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