On the Measurement of Uncertainty Aversion.

This paper proposes a measure of uncertainty-aversion analogous to the Arrow-Pratt Measure of risk aversion. We apply it to multiple priors and non additive probability models of uncertaity. In these models there is non distinction between uncertainty and aversion to it. Hence our theory can olso be interpreted as a measure of uncertainty.

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Year of publication:	1996
Authors:	Kelsey, D.
Institutions:	Department of Economics, University of Birmingham
Subject:	RISK \| PROBABILITY \| ECONOMIC MODELS

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Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	21 pages
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; D80 - Information and Uncertainty. General ; D89 - Information and Uncertainty. Other
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005086677