Alon, Shiri; Schmeidler, David - In: Journal of Economic Theory 152 (2014) C, pp. 382-412
The Maxmin Expected Utility decision rule suggests that the decision maker can be characterized by a utility function and a set of prior probabilities, such that the chosen act maximizes the minimal expected utility, where the minimum is taken over the priors in the set. Gilboa and Schmeidler...