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This paper discusses models of choice under imprecise objective probabilistic information featuring beliefs about beliefs -- second order beliefs. A new model, called Second Order Dual Expected Utility (SODEU) featuring non-additive second order beliefs is introduced, axiomatized and...
Persistent link: https://www.econbiz.de/10011599528
This paper discusses models of choice under imprecise objective probabilistic information featuring beliefs about beliefs -- second order beliefs. A new model, called Second Order Dual Expected Utility (SODEU) featuring non-additive second order beliefs is introduced, axiomatized and...
Persistent link: https://www.econbiz.de/10011019202
Dow and Welang (1994) extended the notion of Nash equilibrium for two-player finite normal games when players are uncertainty on the behavior of his opponents. They showed the existence of equilibrium for any given degree of uncertainty however constant over all possible events, except the null...
Persistent link: https://www.econbiz.de/10005129793
Persistent link: https://www.econbiz.de/10009401889
We axiomatize a model of decision under objective ambiguity or imprecise risk. The decision maker forms a subjective (non necessarily additive) belief aboutthe likelihood of probability distributions and computes the average expected utility of a given act with respect to this second order...
Persistent link: https://www.econbiz.de/10008795437
This paper discusses models of choice under imprecise objective proba- bilistic information featuring beliefs about beliefs - second order beliefs. A new model, called Second Order Dual Expected Utility (SODEU) featuring non-additive second order beliefs is introduced, axiomatized and systemati-...
Persistent link: https://www.econbiz.de/10009021746
Persistent link: https://www.econbiz.de/10011717451
This paper discusses models of choice under imprecise objective probabilistic information featuring beliefs about beliefs -- second order beliefs. A new model, called Second Order Dual Expected Utility (SODEU) featuring non-additive second order beliefs is introduced, axiomatized and...
Persistent link: https://www.econbiz.de/10011674093