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We provide a model of decision making under uncertainty in which the decision maker reacts to imprecision of the … notions of comparative aversion to imprecision of the data as well as traditional notions of risk aversion. Interestingly, the … study of comparative aversion to imprecision can be done independently of the utility function, which embeds risk attitudes …
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experimental approach, we analyze the impact of risk, imprecision in probabilities (ambiguity), imprecision in outcomes, and a …In real world financial markets, dividend processes as well as fundamental values are governed by imprecision; neither …, we do not find any significant imprecision premia for imprecise probabilities. However, we do find significant and …
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experimental approach, we analyze the impact of risk, imprecision in probabilities (ambiguity), imprecision in outcomes, and a …In real world financial markets, dividend processes as well as fundamental values are governed by imprecision; neither …, we do not find any significant imprecision premia for imprecise probabilities. However, we do find significant and …
Persistent link: https://www.econbiz.de/10012008802
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Przedstawiono, niepodzielny przez wiekszosc autorow zajmujacych sie zbiorami rozmytymi, poglad, ze niepewnosc i nieostrosc sa to dwa istotnie rozne zjawiska empiryczne i dlatego musza byc wyjasnione lub tylko opisywane za pomoca roznych teorii: teorii prawdopodobienstwa i teorii zbiorow...
Persistent link: https://www.econbiz.de/10008764611
two forms of ex-post decision making according to individual rationality: 1. ambiguity 2. uncertainty. An elaboration of …
Persistent link: https://www.econbiz.de/10010305467