Relative uncertainty aversion and additively representable set rankings
AbstractThis paper proposes a definition of relative uncertainty aversion for decision models under complete uncertainty. It is shown that, for a large class of decision rules characterized by a set of plausible axioms, the new criterion yields a complete ranking of those rules with respect to the relative degree of uncertainty aversion they represent. In addition, we address a combinatorial question that arises in this context, and we examine conditions for the additive representability of our rules.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by The International Society for Economic Theory in its journal International Journal of Economic Theory.
Volume (Year): 2 (2006)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=1742-7355
Other versions of this item:
- BOSSERT, Walter & SLINKO, Arkadii, 2004. "Relative Uncertainty Aversion and Additively Representable Set Rankings," Cahiers de recherche 16-2004, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Barbera, S. & Bossert, W. & Pattanaik, P.K., 2001.
"Ranking Sets of Objects,"
Cahiers de recherche
2001-02, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Ritxar Arlegi & José C. R. Alcantud, 2006.
"Ranking Sets Additively in Decisional Contexts: An Axiomatic Characterization,"
Documentos de Trabajo - Lan Gaiak Departamento de EconomÃa - Universidad PÃºblica de Navarra
0610, Departamento de Economía - Universidad Pública de Navarra.
- José Alcantud & Ritxar Arlegi, 2008. "Ranking sets additively in decisional contexts: an axiomatic characterization," Theory and Decision, Springer, vol. 64(2), pages 147-171, March.
- repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09iepso50rh is not listed on IDEAS
- Murat Sertel & Arkadii Slinko, 2007.
"Ranking Committees, Income Streams or Multisets,"
Springer, vol. 30(2), pages 289-289, February.
- Hervé Crès & Itzhak Gilboa, & Nicolas Vieille, 2011.
"Aggregation of multiple prior opinions,"
Sciences Po publications
info:hdl:2441/eu4vqp9ompq, Sciences Po.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.