This is the first of two papers where we present a formal model of unawareness. We contrast
unawareness with certainty and uncertainty. A subject is certain of something when he …

We claim first that simple uncertainty is not an adequate model of a subject's ignorance,
because a major component of it is the inability to give a complete description of the states of …

In real-life decision problems, decision makers are never provided with the necessary
background structure: the set of states of the world, the outcome space, the set of actions …

The'Savage paradigm'of rational decision-making under uncertainty has become the
dominant model of human behavior in mainstream economics and game theory. However …

We provide an axiomatic foundation for decision making in a complex environment. We do
not assume that the decision maker has complete structural knowledge of the environment …

We present a consistent pure-exchange general equilibrium model where agents may not
be able to foresee all possible future contingencies. In this context, even with nominal assets …

This chapter reviews the unifying role performed by personal knowledge in FA Hayek's long-
standing contribution to both economic theory and social philosophy, and aims to compare …

Information asymmetry could result in sub-optimal decision making. Information asymmetry
can therefore undermine the efficiency of economic activities by influencing and reducing …

Publisher Summary This chapter describes how weaker decision theoretic axioms generate
a more plausible description of agents' knowledge and knowledge revision. The results are …

We claim rst that simple uncertainty is not an adequate model of a subject's ignorance,
because a major component of it is the inability to give a complete description of the states of …