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Ambiguity Preferences and Portfolio Choices: Evidence from the Field.

Bianchi, Milo; Tallon, Jean-Marc - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2014

, their portfolios experience higher returns, but they are also more sensitive to market trends. In several instances, the …

Persistent link: https://www.econbiz.de/10010942363

Aggregating Tastes, Beliefs, and Attitudes under Uncertainty.

Danan, Eric; Gajdos, Thibault; Hill, Brian; Tallon, … - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2014

We provide possibility results on the aggregation of beliefs and tastes for Monotone, Bernoullian and Archimedian preferences of Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (2011). We propose a new axiom, Unambiguous Pareto Dominance, which requires that if the unambiguous...

Persistent link: https://www.econbiz.de/10010942367

Cardinal extensions of EU model based on the Choquet integral.

Chateauneuf, Alain; Cohen, Michèle - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008

, which allow to take into account observed behaviors as in Allais' paradox under risk or Ellsberg's paradox under uncertainty … uncertainty, and Quiggin and Yaari under risk, succeeded to characterize preferences which generalize the EU model, by means of a … for more diversified patterns of behavior under uncertainty as well under risk. …

Persistent link: https://www.econbiz.de/10004988950

Decision under uncertainty : the classical models.

Chateauneuf, Alain; Cohen, Michèle; Jaffray, Jean-Yves - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008

This chapiter of a collective book is dedicated to classical decision models under uncertainty, i.e. under situations …

Persistent link: https://www.econbiz.de/10004988960

No-arbitrage, overlapping sets of priors and the existence of efficient allocations and equilibria in the presence of risk and ambiguity.

Dana, Rose-Anne; Van, Cuong Le - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008

some prior. It is shown that the more uncertainty averse and the more risk averse, the more likely are efficient …

Persistent link: https://www.econbiz.de/10005696750

Decision theory under uncertainty.

Etner, Johanna; Jeleva, Meglena; Tallon, Jean-Marc - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2009

We review recent advances in the field of decision making under uncertainty or ambiguity. …

Persistent link: https://www.econbiz.de/10008622033

Efficient allocations and Equilibria with short-selling and Incomplete Preferences.

Dana, Rose-Anne; Van, Cuong Le - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2014

This article reconsiders the theory of existence of efficient allocations and equilibria when consumption sets are unbounded below under the assumption that agents have incomplete preferences. It is motivated by an example in the theory of assets with short-selling where there is risk and...

Persistent link: https://www.econbiz.de/10011184304

Environmental Tax and the Distribution of Income among Heterogeneous Workers.

Chiroleu-Assouline, Mireille; Fodha, Mouez - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008

This paper analyzes the environmental tax policy issues when labor is heterogeneous. The objective is to assess whether an environmental tax policy could be Pareto improving, when the revenue of the pollution tax is recycled by a change in the labor tax properties. We show that, depending on the...

Persistent link: https://www.econbiz.de/10004988956

Walras-Lindahl-Wicksell : What equilibrium concept for public goods provision ? I - The convex case.

Florenzano, Monique - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2009

Despite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework and assuming convexity as well on the consumption side as on the production side, of the different equilibrium concepts elaborated for studying provision of public...

Persistent link: https://www.econbiz.de/10005012498

A non-dictatorial criterion for optimal growth models.

Kama, Alain Ayong Le; Van, Cuong Le; Schubert, Katheline - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008

There are two main approaches for defining social welfare relations for an economy with infinite horizon. The first one is to consider the set of intertemporal utility streams generated by a general set of bounded consumptions and define a preference relation between them. This relation is...

Persistent link: https://www.econbiz.de/10005696747