Ambiguity Aversion, Robustness, and the Variational Representation of Preferences
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.
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Volume (Year): 74 (2006)
Issue (Month): 6 (November)
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