Karni and Vierø (2013) present an interesting theory of decisions in the presence of new actions and consequences. We establish results on the observable implications of the model. When introducing new consequences, arbitrary preference reversals over feasible actions are permitted. This occurs even if an outside observer can uniquely pin down the decision maker's ordinal ranking over consequences.
"Reverse Bayesianism: A Comment."
American Economic Journal: Microeconomics,
Criteria for Decision-Making under Risk and Uncertainty
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