Uncertainty aversion in nonprobabilistic decision models
AbstractThis paper proposes a definition of uncertainty aversion for nonprobabilistic decision models and characterizes the decision rules that are uncertainty averses in that sense. Dual results are obtained for uncertainty appeal and it is shown that imposing an uncertainty neutrality condition leads to an impossibility result.
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Bibliographic InfoArticle provided by Elsevier in its journal Mathematical Social Sciences.
Volume (Year): 34 (1997)
Issue (Month): 3 (October)
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Web page: http://www.elsevier.com/locate/inca/505565
Other versions of this item:
- Bossert, W., 1996. "Uncertainty Aversion in Nonprobabilistic Decision Models," Working Papers 9609, University of Waterloo, Department of Economics.
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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