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A Class of Incomplete and Ambiguity Averse Preferences

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  • Leandro Nascimento
  • Gil Riella

Abstract

This paper characterizes ambiguity averse preferences in the absence of the completeness axiom. We axiomatize multiple selves versions of some of the most important examples of complete and ambiguity averse preferences, and characterize when those incomplete preferences are ambiguity averse.

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File URL: http://www.bcb.gov.br/pec/wps/ingl/wps180.pdf
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Bibliographic Info

Paper provided by Central Bank of Brazil, Research Department in its series Working Papers Series with number 180.

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Date of creation: Jan 2009
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Handle: RePEc:bcb:wpaper:180

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Web page: http://www.bcb.gov.br/?english

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Cited by:
  1. Nascimento, Leandro, 2012. "The ex-ante aggregation of opinions under uncertainty," Theoretical Economics, Econometric Society, vol. 7(3), September.
  2. Riedel, Frank & Dana, Rose-Anne, 2010. "Intertemporal Equilibria with Knightian Uncertainty," Economics Papers from University Paris Dauphine 123456789/5375, Paris Dauphine University.
  3. Eric Danan, 2010. "Randomization vs. Selection: How to Choose in the Absence of Preference?," Management Science, INFORMS, vol. 56(3), pages 503-518, March.
  4. Faro, José Heleno, 2011. "Variational Bewley Preferences," Insper Working Papers wpe_258, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.

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