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Ambiguity Aversion, Robustness, and the Variational Representation of Preferences

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  • Fabio Maccheroni
  • Massimo Marinacci
  • Aldo Rustichini

Abstract

We characterize, in the Anscombe-Aumann framework, the preferences for which there are a utility functionu on outcomes and an ambiguity indexc on the set of probabilities on the states of the world such that, for all acts f and g, Copyright The Econometric Society 2006.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Fabio Maccheroni & Massimo Marinacci & Aldo Rustichini, 2004. "Ambiguity Aversion, Robustness, and the Variational Representation of Preferences," Carlo Alberto Notebooks 12, Collegio Carlo Alberto, revised 2006.
    • Handle: RePEc:cca:wpaper:12
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    References listed on IDEAS

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    More about this item

    Keywords

    Ambiguity; Robustness; Multiplier Preferences;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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