using household indicators on expenditures, educational level, health status and land holdings. The purpose is to assess …

explicit preference families: a maxmin expected utility and smooth ambiguity. Thirdly, we give applications to the comparative … ambiguity averse relation. First, we define two notions of more ambiguous with respect to such a class. A more ambiguous (I) act … makes an ambiguity averse decision maker (DM) worse off but does not affect the welfare of an ambiguity neutral DM. A more …

between the set of relevant measures, shown by KMS [21] to reflect only perceived ambiguity, and the set of measures (which we … perceived ambiguity. Regarding symmetry assumptions, we show that, under relatively mild conditions, a variety of preference … stringent. Only when it is satisfied may the Bewley set be interpreted as reflecting only perceived ambiguity and not also taste …

Knightian uncertainty about opponents' actions and maximize individually their Choquet expected utility with respect to neo …

The α-MEU model and the smooth ambiguity model are two popular models in decision making under ambiguity. However, the …

A micro decision-making utility model under uncertainty is presented as a complementary foundation for macro … coronavirus models. The micro model consists of two functions, a risk averse utility function depending on wellness and a wellness …/his expected utility, given the probabilities of the respective outputs. The focus is on how changes in a person's psychological …

unanimous choices by some specific groups of expected or non-expected utility investors, VaRs as profiles of risk measures at …

) shows that this constraint might well bind: insured could get higher expected utility if insurance contracts would allow … optimal insurance contract he derives underestimates the relevance of the non-negativity constraint on indemnities. This paper …

form of an insurance contract to impose partial insurance of the low risks. This paper contributes to the discussion on … optimal insurance. It analyzes two basic forms of insurance contracts: A contract with a deductible and a contract imposing a … positive co-insurance rate. Since high risks can always self-reveal themselves as high risks and buy the optimal insurance …

designed around two criteria for successful disease intervention-preparedness and prevention. The paper examines how a job …