Uncertainty Averse Preferences
Abstract
We study uncertainty averse preferences, that is, complete and transitive preferences that are convex and monotone. We establish a representation result, which is at same time general and rich in structure. Many objective functions commonly used in applications are special cases of this representation.Download Info
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Paper provided by Collegio Carlo Alberto in its series Carlo Alberto Notebooks with number 77.Length: 81 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:cca:wpaper:77
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Keywords: ambiguity aversion; games against nature; model uncertainty; smooth ambiguity preferences; variational preferences;Other versions of this item:
- Cerreia-Vioglio, S. & Maccheroni, F. & Marinacci, M. & Montrucchio, L., 2011. "Uncertainty averse preferences," Journal of Economic Theory, Elsevier, vol. 146(4), pages 1275-1330, July.
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-09-13 (All new papers)
- NEP-UPT-2008-09-13 (Utility Models & Prospect Theory)
References
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