Beißner, Patrick; Werner, Jan - In: Theoretical economics : TE ; an open access journal in … 18 (2023) 3, pp. 993-1022
The analysis of optimal risk sharing has been thus far largely restricted to nonexpected utility models with concave utility functions, where concavity is an expression of ambiguity aversion and/or risk aversion. This paper extends the analysis to α-maxmin expected utility, Choquet expected...