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met: separability of preferences and completeness of contracts. These conditions are often plausible, but they fail to …
Persistent link: https://www.econbiz.de/10003935667
met: separability of preferences and completeness of contracts. These conditions are often plausible, but they fail to …
Persistent link: https://www.econbiz.de/10003951883
Persistent link: https://www.econbiz.de/10010531273
In this paper, the assumption of monotonicity of Anscombe and Aumann (1963) is replaced by an assumption of monotonicity with respect to first-order stochastic dominance. I derive a representation result where ambiguous distributions of objective beliefs are first aggregated into “equivalent...
Persistent link: https://www.econbiz.de/10011280266
We propose procedures for estimating the time-dependent transition matrices for the general class of finite nonhomogeneous continuous-time semi-Markov processes. We prove the existence and uniqueness of solutions for the system of Volterra integral equations defining the transition matrices,...
Persistent link: https://www.econbiz.de/10011348706
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Under regret theory, decision-makers derive utility both from the outcome of their chosen action and the counterfactual. Evidence for anticipatory regret aversion has been found in oneshot settings, with "regret lotteries" that always reveal outcomes, as a counterfactual on non-entry, being...
Persistent link: https://www.econbiz.de/10011485182
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