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We present in this paper necessary and sufficient conditions for the representation of preferences in a decision making problem, by the Sugeno integral, in a purely ordinal framework. We distinguish between strong and weak representations.
Persistent link: https://www.econbiz.de/10010750963
The aim of the paper is to present under uncertainty, and in an ordinal framework, an axiomatic treatment of the Sugeno integral in terms of preferences which parallels some earlier derivations devoted to the Choquet integral. Some emphasis is given to the characterization of uncertainty aversion.
Persistent link: https://www.econbiz.de/10010738591
We present in this paper necessary and sufficient conditions for the representation of preferences in a decision making problem, by the Sugeno integral, in a purely ordinal framework. We distinguish between strong and weak representations.
Persistent link: https://www.econbiz.de/10008794975
The aim of the paper is to present under uncertainty, and in an ordinal framework, an axiomatic treatment of the Sugeno integral in terms of preferences which parallels some earlier derivations devoted to the Choquet integral. Some emphasis is given to the characterization of uncertainty aversion.
Persistent link: https://www.econbiz.de/10008795675
Persistent link: https://www.econbiz.de/10003783825
Tribute to Jean-Yves Jaffray by the French Group of Decision Theory
Persistent link: https://www.econbiz.de/10009647522
In this paper, we deal with the basic two-period consumption saving problem where the first and second period consumption utility, respectively v is assumed to be concave as usually. Considering the usual assumption of identify of u and v, we show that prudence is fully characterized by the...
Persistent link: https://www.econbiz.de/10010750556
This paper presents a characterization of weak risk aversion in terms of preference for sure diversification. Similarly, we show that strong risk aversion can be characterized by weakening preference for diversification, as introduced by Dekel [11], in what we name preference for strong...
Persistent link: https://www.econbiz.de/10010750576
We show that when decision makers are of the multiple prior kind, there is an equivalence between no betting and non empty intersection of the sets of priors.
Persistent link: https://www.econbiz.de/10010750589
n this paper, we examine the effect of a decrease in risk on the demand for risky asset in the standard portfolio problem. We introduce a new class of dominance, that we name relative order and we prove that this class of dominance is consistent both with central dominance introduced by Gollier...
Persistent link: https://www.econbiz.de/10010750618