Dean, Mark; Ortoleva, Pietro - In: Theoretical economics : TE ; an open access journal in … 12 (2017) 1, pp. 377-424
novel notion of preference for hedging that applies to both objective lotteries and uncertain acts. We show that this axiom … hedging is not suf?cient to guarantee Ellsberg-like behavior if the agent violates expected utility for objective lotteries …