This paper axiomatizes an intertemporal version of the Smooth Ambiguity decision model developed in [P. Klibanoff, M. Marinacci, S. Mukerji, A smooth model of decision making under ambiguity, Econometrica 73 (6) (2005) 1849-1892]. A key feature of the model is that it achieves a separation...

In a multiple priors model á la Gilboa and Schmeidler (1989), we provide necessary and sufficient behavioral conditions ensuring the countable additivity and non-atomicity of all priors. Copyright Springer-Verlag Berlin/Heidelberg 2005

We study unique and globally attracting solutions of a general nonlinear equation that has as special cases some recursive equations widely used in Economics.

This note provides a behavioral characterization of mutually absolutely continuous multiple priors.

A decision maker (DM) is characterized by two binary relations. The first reflects choices that are rational in an "objective" sense: the DM can convince others that she is right in making them. The second relation models choices that are rational in a "subjective" sense: the DM cannot be...

We propose a portfolio selection model based on a class of preferences that coincide with mean-variance preferences on their domain of monotonicity, but differ where mean-variance preferences fail to be monotone.

Concavity and supermodularity are in general independent properties. A class of functionals defined on a lattice cone of a Riesz space has the Choquet property when it is the case that its members are concave whenever they are supermodular. We show that for some important Riesz spaces both the...

We introduce and characterize axiomatically a general model of static choice under uncertainty, which is possibly the weakest model in which a separation of cardinal utility and a representation of beliefs is achieved. Most of the popular non-expected utility models in the literature are special...