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Mutual Absolute Continuity of Multiple Priors

Author

Listed:
  • Larry G. Epstein
  • Massimo Marinacci

Abstract

This note provides a behavioral characterization of mutually absolutely continuous multiple priors.

Suggested Citation

  • Larry G. Epstein & Massimo Marinacci, 2006. "Mutual Absolute Continuity of Multiple Priors," Carlo Alberto Notebooks 19, Collegio Carlo Alberto.
    • Handle: RePEc:cca:wpaper:19
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    File URL: https://www.carloalberto.org/wp-content/uploads/2018/11/no.19.pdf
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    References listed on IDEAS

    as
    1. Paolo Ghirardato & Massimo Marinacci, 2001. "Risk, Ambiguity, and the Separation of Utility and Beliefs," Mathematics of Operations Research, INFORMS, vol. 26(4), pages 864-890, November.
    2. Epstein, Larry G. & Schneider, Martin, 2003. "Recursive multiple-priors," Journal of Economic Theory, Elsevier, vol. 113(1), pages 1-31, November.
    3. Gilboa, Itzhak & Schmeidler, David, 1989. "Maxmin expected utility with non-unique prior," Journal of Mathematical Economics, Elsevier, vol. 18(2), pages 141-153, April.
    4. Fabio Maccheroni & Massimo Marinacci & Aldo Rustichini, 2006. "Ambiguity Aversion, Robustness, and the Variational Representation of Preferences," Econometrica, Econometric Society, vol. 74(6), pages 1447-1498, November.
    5. Kreps, David M, 1979. "A Representation Theorem for "Preference for Flexibility"," Econometrica, Econometric Society, vol. 47(3), pages 565-577, May.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Bade, Sophie, 2011. "Ambiguous act equilibria," Games and Economic Behavior, Elsevier, vol. 71(2), pages 246-260, March.
    2. Chambers, Christopher P. & Miller, Alan D. & Yenmez, M. Bumin, 2020. "Closure and preferences," Journal of Mathematical Economics, Elsevier, vol. 88(C), pages 161-166.
    3. Bier, Monika & Engelage, Daniel, 2011. "Merging of opinions under uncertainty," Center for Mathematical Economics Working Papers 433, Center for Mathematical Economics, Bielefeld University.
    4. Grant, Simon & Meneghel, Idione & Tourky, Rabee, 2013. "Savage Games: A Theory of Strategic Interaction with Purely Subjective Uncertainty," Risk and Sustainable Management Group Working Papers 151501, University of Queensland, School of Economics.
    5. Dana, Rose-Anne & Riedel, Frank, 2013. "Intertemporal equilibria with Knightian uncertainty," Journal of Economic Theory, Elsevier, vol. 148(4), pages 1582-1605.
    6. Bier, Monika & Engelage, Daniel, 2010. "Merging of Opinions under Uncertainty," Bonn Econ Discussion Papers 11/2010, University of Bonn, Bonn Graduate School of Economics (BGSE).
    7. Araujo, Aloisio & Chateauneuf, Alain & Faro, José Heleno, 2018. "Financial market structures revealed by pricing rules: Efficient complete markets are prevalent," Journal of Economic Theory, Elsevier, vol. 173(C), pages 257-288.
    8. Patrick Beissner, 2017. "Equilibrium prices and trade under ambiguous volatility," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(2), pages 213-238, August.
    9. Spyros Galanis, 2021. "Dynamic consistency, valuable information and subjective beliefs," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(4), pages 1467-1497, June.
    10. Daniel, Engelage, 2011. "Optimal stopping with dynamic variational preferences," Journal of Economic Theory, Elsevier, vol. 146(5), pages 2042-2074, September.
    11. Vorbrink, Jörg, 2014. "Financial markets with volatility uncertainty," Journal of Mathematical Economics, Elsevier, vol. 53(C), pages 64-78.
    12. Chambers, Christopher P. & Echenique, Federico, 2008. "Ordinal notions of submodularity," Journal of Mathematical Economics, Elsevier, vol. 44(11), pages 1243-1245, December.
    13. repec:ipg:wpaper:2013-016 is not listed on IDEAS
    14. repec:dau:papers:123456789/5375 is not listed on IDEAS
    15. repec:ipg:wpaper:16 is not listed on IDEAS
    16. repec:dau:papers:123456789/11268 is not listed on IDEAS
    17. Grant, Simon & Meneghel, Idione & Tourky, Rabee, 2016. "Savage games," Theoretical Economics, Econometric Society, vol. 11(2), May.

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    More about this item

    Keywords

    Mutual absolute continuity; Multiple priors;

    JEL classification:

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

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