A note on preference for flexibility

A result of Kreps (1979) on preference for flexibility is extended from two to three periods (formally from preferences over sets to preferences over sets of sets). An intuitively easier route to Kreps' original result is also presented, making the proof essentially ready for use in a decision theory class. Received: 23 April 2001 / Accepted: 1 September 2001 First version October 1997.