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Neo-additive capacities and updating
Eichberger, Jürgen; Grant, Simon; Lefort, Jean-Philippe - 2009 - This version: October 19, 2009
This paper shows that, for CEU preferences, the axioms consquentialism, state independence and conditional certainty equivalent consistency under updating characterise a family of capacities, called Genralised Neo-Additive Capacities (GNAC). This family contains as special cases among others...
Persistent link: https://www.econbiz.de/10003893438
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Attitudes towards uncertainty and randomization : an experimental study
Dominiak, Adam - 2009
Individuals exhibit a randomization preference if they prefer random mixtures of two bets to each of the involved bets. Such preferences provide the foundation of various models of uncertainty aversion. However, it has to our knowledge not been empirically investigated whether uncertainty-averse...
Persistent link: https://www.econbiz.de/10003916450
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Ambiguity and social interaction
Eichberger, Jürgen; Kelsey, David; Schipper, Burkhard - 2007
We present a non-technical account of ambiguity in strategic games and show how it may be applied to economics and … social sciences. Optimistic and pessimistic responses to ambiguity are formally modelled. We show that pessimism has the … ambiguity on peace-making are examined. It is shown that ambiguity may select equilibria in coordination games with multiple …
Persistent link: https://www.econbiz.de/10003592769
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Ambiguity revealed
Bose, Subir; Polisson, Matthew; Renou, Ludovic - 2012
Persistent link: https://www.econbiz.de/10009545824
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Equimeasurable rearrangements with capacities
Ghossoub, Mario - In: Mathematics of operations research 40 (2015) 2, pp. 429-445
Persistent link: https://www.econbiz.de/10011282696
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Decision making in phantom spaces
Izhakian, Yehuda; Izhakian, Zur - In: Economic theory : official journal of the Society for … 58 (2015) 1, pp. 59-98
Persistent link: https://www.econbiz.de/10011376082
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Time and no lotteries : an axiomatization of maxmin expected utility
Kochov, Asen - In: Econometrica : journal of the Econometric Society, an … 83 (2015) 1, pp. 239-262
Persistent link: https://www.econbiz.de/10011338366
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Quality ambiguity and the market mechanism for credence goods
Benner, Dietrich (contributor) - 2004
uncertainty on the ?market for lemons? of Akerlof (1970) to ?quality ambiguity? with credence goods. The model shows the market …
Persistent link: https://www.econbiz.de/10011342061
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Sharing ambiguous risks
Chakravarty, Surajeet; Kelsey, David - In: Journal of mathematical economics 56 (2015), pp. 1-8
Persistent link: https://www.econbiz.de/10011342988
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First-order and second-order ambiguity aversion
Lang, Matthias - 2015
differences lies in the dichotomy between first-order and second-order ambiguity aversion which I define here. My definition and …-order ambiguity aversion a positive exposure to ambiguity is optimal if and only if there is a subjective belief such that the actś … expected outcome is positive. With first-order ambiguity aversion, zero exposure to ambiguity can be optimal. Examples in …
Persistent link: https://www.econbiz.de/10011349377