Complexity of the problem of choosing among uncertain acts is a salient feature of many of the environments in which departures from expected utility theory are observed. I study a class of Generalized Simple Bounds preferences in which acts that are complex from the perspective of the decision maker are bracketed by “simple” acts to which they are related by statewise dominance. I then study a refinement of the model in which the size of the partition with respect to which an act is measurable arises endogenously as a measure of subjective complexity. Finally, I consider choice behavior characterized by a “cautious completion” of Simple Bounds preferences, and discuss the relationship between this model and models of ambiguity aversion. I develop general comparative statics results, and explore applications to portfolio choice and insurance choice.

在许多环境中观察到偏离预期效用理论的情况下，在不确定行为中进行选择的问题的复杂性是一个显着特征。我研究了一类广义简单界限偏好，其中从决策者的角度来看复杂的行为被与国家主导地位相关的“简单”行为括起来。然后，我研究了模型的改进，其中可测量行为的分区大小作为主观复杂性的衡量标准而内生出现。最后，我考虑了以“谨慎完成”简单界限偏好为特征的选择行为，并讨论了该模型与模糊厌恶模型之间的关系。我开发了一般比较静态结果，并探索了在投资组合选择和保险选择中的应用。