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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

We investigate the empirical relation between ambiguity aversion, risk aversion and portfolio choices. We match administrative panel data on portfolio choices with survey data on preferences over ambiguity and risk. We report three main findings. First, conditional on participation, ambiguity...

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

Fair management of social risk.

Fleurbaey, Marc; Zuber, Stéphane - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2014

context of risk and uncertainty. We apply the méthod to the problems of managing unemployment allowances (in the context of …

Persistent link: https://www.econbiz.de/10010753973

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

Optimal nuclear waste burial policy under uncertainty.

Kama, Alain Ayong Le; Fodha, Mouez - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008

The aim of this paper is to study the optimal nuclear waste burial policy under an uncertainty : the possibility that …. Under uncertainty on the future safety of the buried waste, the social planner will decide to decrease the rate of waste …

Persistent link: https://www.econbiz.de/10004988966

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

Robust viable management of a harvested ecosystem model.

Regnier, Esther; Lara, Michel De - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2013

anchovy-hake couple in the Peruvian upwelling ecosystem. We find that accounting for uncertainty significantly reduces the …

Persistent link: https://www.econbiz.de/10010617543

Is the Veil of Ignorance Transparent?.

Giraud, Gaël; Renouard, Cécile - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2011

Theories of justice in the spirit of Rawls and Harsanyi argue that fair-minded people should aspire to make choices for society as if in the original position, that is, behind a veil of ignorance that prevents them from knowing their own social positions. In this paper, we provide a fairly...

Persistent link: https://www.econbiz.de/10009003754

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