Ghirardato, Paolo; Siniscalchi, Marciano - Collegio Carlo Alberto, Università degli Studi di Torino - 2012
This paper considers local and global multiple-prior representations of ambiguity for preferences that are (i) monotonic, (ii) Bernoullian, i.e. admit an affine utility representation when restricted to constant acts, and (iii) locally Lipschitz continuous. We do not require either Certainty...