# Ambiguity aversion and trade

## Author

## Abstract

## Suggested Citation

**Ambiguity aversion and trade**," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00685408, HAL.

*RePEc:hal:cesptp:hal-00685408*

DOI: 10.1007/s00199-011-0642-6

Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00685408

## Download full text from publisher

**To our knowledge, this item is not available for download**. To find whether it is available, there are three options:

1. Check below whether another version of this item is available online.

2. Check on the provider's web page whether it is in fact available.

3. Perform a search for a similarly titled item that would be available.

## Other versions of this item:

- Luciano Castro & Alain Chateauneuf, 2011.
"
**Ambiguity aversion and trade**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(2), pages 243-273, October.

- Luciano de Castro & Alain Chateauneuf, 2011.
"
**Ambiguity aversion and trade**," Post-Print hal-00685408, HAL. - Alain Chateauneuf & Luciano I. de Castro, 2011.
"
**Ambiguity Aversion and Trade**," Discussion Papers 1526, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Luciano de Castro & Alain Chateauneuf, 2011.
"
**Ambiguity aversion and trade**," PSE-Ecole d'économie de Paris (Postprint) hal-00685408, HAL.

## References listed on IDEAS

- repec:dau:papers:123456789/5393 is not listed on IDEAS
- Peter Klibanoff & Massimo Marinacci & Sujoy Mukerji, 2011.
"
**Definitions of ambiguous events and the smooth ambiguity model**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(2), pages 399-424, October.- Sujoy Mukerji & Peter Klibanoff and Massimo Marinacci, 2011.
"
**Definitions of Ambiguous Events and the Smooth Ambiguity Model**," Economics Series Working Papers 525, University of Oxford, Department of Economics.

- Sujoy Mukerji & Peter Klibanoff and Massimo Marinacci, 2011.
"
- Ghirardato, Paolo & Marinacci, Massimo, 2002.
"
**Ambiguity Made Precise: A Comparative Foundation**," Journal of Economic Theory, Elsevier, vol. 102(2), pages 251-289, February. - Sujoy Mukerji & Jean-Marc Tallon, 2001.
"
**Ambiguity Aversion and Incompleteness of Financial Markets**," Review of Economic Studies, Oxford University Press, vol. 68(4), pages 883-904.- Mukerji, S. & Tallon, J.-M., 1999.
"
**Ambiguity Aversion and Incompleteness of Financial Markets**," Papiers d'Economie MathÃ©matique et Applications 1999-28, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1). - Sujoy Mukerji & Jean-Marc Tallon, 2001.
"
**Ambiguity Aversion and Incompleteness of Financial Markets**," Post-Print halshs-00174539, HAL. - Sujoy Mukerji & Jean-Marc Tallon & UniversitÃƒÂ© Paris I PanthÃƒÂ©on-Sorbonne, 2000.
"
**Ambiguity Aversion and Incompleteness of Financial Markets**," Economics Series Working Papers 46, University of Oxford, Department of Economics. - Sujoy Mukerji & Jean-Marc Tallon, 2001.
"
**Ambiguity Aversion and Incompleteness of Financial Markets**," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00174539, HAL.

- Mukerji, S. & Tallon, J.-M., 1999.
"
- J. M. Keynes, 1937.
"
**The General Theory of Employment**," The Quarterly Journal of Economics, Oxford University Press, vol. 51(2), pages 209-223. - Asano, Takao, 2006.
"
**Portfolio inertia under ambiguity**," Mathematical Social Sciences, Elsevier, vol. 52(3), pages 223-232, December. - Tallon, Jean-Marc, 1998.
"
**Do sunspots matter when agents are Choquet-expected-utility maximizers?**," Journal of Economic Dynamics and Control, Elsevier, vol. 22(3), pages 357-368, March.- Tallon, J.M., 1995.
"
**Sunspot Equilibria and Non-Additive Expected Utility Maximizers**," Papiers d'Economie MathÃ©matique et Applications 95.14, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1). - Jean-Marc Tallon, 1998.
"
**Do sunspots matter when agents are Choquet-expected-utility maximizers?**," Post-Print halshs-00502493, HAL.

- Tallon, J.M., 1995.
"
- Luca Rigotti & Chris Shannon, 2005.
"
**Uncertainty and Risk in Financial Markets**," Econometrica, Econometric Society, vol. 73(1), pages 203-243, January.- Rigotti, Luca & Shannon, Chris, 2001.
"
**Uncertainty and Risk in Financial Markets**," Department of Economics, Working Paper Series qt6m42r5rr, Department of Economics, Institute for Business and Economic Research, UC Berkeley. - Rigotti, Luca & Shannon, Chris, 2001.
"
**Uncertainty and Risk in Financial Markets**," Department of Economics, Working Paper Series qt7pp7113z, Department of Economics, Institute for Business and Economic Research, UC Berkeley. - Luca Rigotti & Chris Shannon=20, 2002.
"
**Uncertainty and Risk in Financial Markets**," Game Theory and Information 0201001, University Library of Munich, Germany.

- Rigotti, Luca & Shannon, Chris, 2001.
"
- Epstein, Larry G. & Seo, Kyoungwon, 2010.
"
**Symmetry of evidence without evidence of symmetry**," Theoretical Economics, Econometric Society, vol. 5(3), September.- Larry G. Epstein & Kyoungwon Seo, 2008.
"
**Symmetry Of Evidence Without Evidence Of Symmetry**," Boston University - Department of Economics - Working Papers Series wp2008-018, Boston University - Department of Economics.

- Larry G. Epstein & Kyoungwon Seo, 2008.
"
- Chateauneuf, Alain & Dana, Rose-Anne & Tallon, Jean-Marc, 2000.
"
**Optimal risk-sharing rules and equilibria with Choquet-expected-utility**," Journal of Mathematical Economics, Elsevier, vol. 34(2), pages 191-214, October.- Chateauneuf, A. & Dana, R.-A, & Tallon, J.-M., 1997.
"
**Optimal Risk-Sharing Rules and Equilibria With Non-Additive Expected Utility**," Papiers d'Economie MathÃ©matique et Applications 97.54, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1). - Alain Chateauneuf & Rose Anne Dana & Jean-Marc Tallon, 2000.
"
**Optimal risk-sharing rules and equilibria with Choquet-expected-utility**," Post-Print halshs-00451997, HAL. - Alain Chateauneuf & Rose Anne Dana & Jean-Marc Tallon, 2000.
"
**Optimal risk-sharing rules and equilibria with Choquet-expected-utility**," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00451997, HAL.

- Chateauneuf, A. & Dana, R.-A, & Tallon, J.-M., 1997.
"
- Strzalecki, Tomasz & Werner, Jan, 2011.
"
**Efficient allocations under ambiguity**," Journal of Economic Theory, Elsevier, vol. 146(3), pages 1173-1194, May.- Tomasz Strzalecki & Jan Werner, "undated".
"
**Efficient Allocations under Ambiguity**," Working Paper 8325, Harvard University OpenScholar. - Strzalecki, Tomasz & Werner, Jan, 2011.
"
**Efficient Allocations under Ambiguity**," Scholarly Articles 11352637, Harvard University Department of Economics.

- Tomasz Strzalecki & Jan Werner, "undated".
"
- Jiankang Zhang, 2002.
"
**Subjective ambiguity, expected utility and Choquet expected utility**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 20(1), pages 159-181.- Jiankang Zhang, 1999.
"
**Subjective Ambiguity, Expected Utility and Choquet Expected Utility**," Carleton Economic Papers 99-19, Carleton University, Department of Economics, revised Aug 2002.

- Jiankang Zhang, 1999.
"
- Nehring, Klaus, 1999.
"
**Capacities and probabilistic beliefs: a precarious coexistence**," Mathematical Social Sciences, Elsevier, vol. 38(2), pages 197-213, September.- Klaus Nehring, "undated".
"
**Capacities And Probabilistic Beliefs: A Precarious Coexistence**," Department of Economics 97-08, California Davis - Department of Economics.

- Klaus Nehring, "undated".
"
- Ghirardato, Paolo & Maccheroni, Fabio & Marinacci, Massimo, 2004.
"
**Differentiating ambiguity and ambiguity attitude**," Journal of Economic Theory, Elsevier, vol. 118(2), pages 133-173, October. - Ghirardato, Paolo & Klibanoff, Peter & Marinacci, Massimo, 1998.
"
**Additivity with multiple priors**," Journal of Mathematical Economics, Elsevier, vol. 30(4), pages 405-420, November. - Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci & Marciano Siniscalchi, 2003.
"
**A Subjective Spin on Roulette Wheels**," Econometrica, Econometric Society, vol. 71(6), pages 1897-1908, November.- Ghirardato, Paolo & Maccheroni, Fabio & Marinacci, Massimo & Siniscalchi, Marciano, 2001.
"
**A Subjective Spin on Roulette Wheels**," Working Papers 1127, California Institute of Technology, Division of the Humanities and Social Sciences. - Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci & Marciano Siniscalchi, 2001.
"
**A subjective spin on roulette wheels**," ICER Working Papers - Applied Mathematics Series 17-2001, ICER - International Centre for Economic Research, revised Aug 2001.

- Ghirardato, Paolo & Maccheroni, Fabio & Marinacci, Massimo & Siniscalchi, Marciano, 2001.
"
- Gilboa, Itzhak, 1987.
"
**Expected utility with purely subjective non-additive probabilities**," Journal of Mathematical Economics, Elsevier, vol. 16(1), pages 65-88, February.- Gilboa, Itzhak, 1985.
"
**Expected Utility with Purely Subjective Non-Additive Probabilities**," Foerder Institute for Economic Research Working Papers 275389, Tel-Aviv University > Foerder Institute for Economic Research. - Itzhak Gilboa, 1987.
"
**Expected Utility with Purely Subjective Non-Additive Probabilities**," Post-Print hal-00756291, HAL.

- Gilboa, Itzhak, 1985.
"
- Larry G. Epstein, 1999.
"
**A Definition of Uncertainty Aversion**," Review of Economic Studies, Oxford University Press, vol. 66(3), pages 579-608. - Ghirardato, Paolo, 1997.
"
**On Independence for Non-Additive Measures, with a Fubini Theorem**," Journal of Economic Theory, Elsevier, vol. 73(2), pages 261-291, April.- Ghirardato, Paolo, 1995.
"
**On Independence For Non-Additive Measures, With a Fubini Theorem**," Working Papers 940, California Institute of Technology, Division of the Humanities and Social Sciences.

- Ghirardato, Paolo, 1995.
"
- Trefler, Daniel, 1995.
"
**The Case of the Missing Trade and Other Mysteries**," American Economic Review, American Economic Association, vol. 85(5), pages 1029-1046, December. - Hong Chew Soo & Karni Edi, 1994.
"
**Choquet Expected Utility with a Finite State Space: Commutativity and Act-Independence**," Journal of Economic Theory, Elsevier, vol. 62(2), pages 469-479, April. - Epstein, Larry G. & Miao, Jianjun, 2003.
"
**A two-person dynamic equilibrium under ambiguity**," Journal of Economic Dynamics and Control, Elsevier, vol. 27(7), pages 1253-1288, May.- Larry G. Epstein & JianJun Miao, 2001.
"
**A Two-Person Dynamic Equilibrium under Ambiguity**," RCER Working Papers 478, University of Rochester - Center for Economic Research (RCER).

- Larry G. Epstein & JianJun Miao, 2001.
"
- Epstein, Larry G & Zhang, Jiankang, 2001.
"
**Subjective Probabilities on Subjectively Unambiguous Events**," Econometrica, Econometric Society, vol. 69(2), pages 265-306, March.- Larry G. Epstein & Jiankang Zhang, 1999.
"
**Subjective Probabilities on Subjectively Unambiguous Events**," Carleton Economic Papers 99-18, Carleton University, Department of Economics.

- Larry G. Epstein & Jiankang Zhang, 1999.
"
- John Dickhaut & Radhika Lunawat & Kira Pronin & Jack Stecher, 2011.
"
**Decision making and trade without probabilities**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(2), pages 275-288, October.- Jack Stecher & Radhika Lunawat & Kira Pronin & John Dickhaut, 2007.
"
**Decision Making and Trade without Probabilities**," CIRANO Working Papers 2007s-21, CIRANO.

- Jack Stecher & Radhika Lunawat & Kira Pronin & John Dickhaut, 2007.
"
- Ramon Casadesus-Masanell & Peter Klibanoff & Emre Ozdenoren, 1998.
"
**Maximum Expected Utility over Savage Acts with a Set of Priors**," Discussion Papers 1218, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Nabil I. Al-Najjar, 2009.
"
**Decision Makers as Statisticians: Diversity, Ambiguity, and Learning**," Econometrica, Econometric Society, vol. 77(5), pages 1371-1401, September. - Paolo Ghirardato & Marciano Siniscalchi, 2010.
"
**A more robust definition of multiple priors**," Carlo Alberto Notebooks 144, Collegio Carlo Alberto. - Scott Condie & Jayant Ganguli, 2011.
"
**Informational efficiency with ambiguous information**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(2), pages 229-242, October. - Epstein, Larry G & Wang, Tan, 1994.
"
**Intertemporal Asset Pricing Under Knightian Uncertainty**," Econometrica, Econometric Society, vol. 62(2), pages 283-322, March. - Simone Cerreia-Vioglio & Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci & Marciano Siniscalchi, 2011.
"
**Rational preferences under ambiguity**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(2), pages 341-375, October.- Simone Cerreia-Vioglio & Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci & Marciano Siniscalchi, 2010.
"
**Rational Preferences under Ambiguity**," Carlo Alberto Notebooks 169, Collegio Carlo Alberto.

- Simone Cerreia-Vioglio & Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci & Marciano Siniscalchi, 2010.
"
- Schmeidler, David, 1989.
"
**Subjective Probability and Expected Utility without Additivity**," Econometrica, Econometric Society, vol. 57(3), pages 571-587, May.- David Schmeidler, 1989.
"
**Subjective Probability and Expected Utility without Additivity**," Levine's Working Paper Archive 7662, David K. Levine.

- David Schmeidler, 1989.
"
- repec:dau:papers:123456789/5456 is not listed on IDEAS
- Han Ozsoylev & Jan Werner, 2011.
"
**Liquidity and asset prices in rational expectations equilibrium with ambiguous information**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(2), pages 469-491, October. - Epstein, L.G. & Zhang, J., 1998.
"
**Subjective Probabilities on Subjectivity Unambiguous Event**," RCER Working Papers 456, University of Rochester - Center for Economic Research (RCER). - repec:dau:papers:123456789/5461 is not listed on IDEAS
- Christopher A. Sims, 1996.
"
**Macroeconomics and Methodology**," Journal of Economic Perspectives, American Economic Association, vol. 10(1), pages 105-120, Winter. - Rose-Anne Dana, 2004.
"
**Ambiguity, uncertainty aversion and equilibrium welfare**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 23(3), pages 569-587, March. - Machina, Mark J & Schmeidler, David, 1992.
"
**A More Robust Definition of Subjective Probability**," Econometrica, Econometric Society, vol. 60(4), pages 745-780, July. - Luca Rigotti & Chris Shannon & Tomasz Strzalecki, 2008.
"
**Subjective Beliefs and ex ante Trade**," Econometrica, Econometric Society, vol. 76(5), pages 1167-1190, September.- Shannon, Chris & Strzalecki, Tomasz & Rigotti, Luca, 2008.
"
**Subjective Beliefs and Ex Ante Trade**," Scholarly Articles 3637104, Harvard University Department of Economics.

- Shannon, Chris & Strzalecki, Tomasz & Rigotti, Luca, 2008.
"
- Rigotti, Luca & Shannon, Chris, 2012.
"
**Sharing risk and ambiguity**," Journal of Economic Theory, Elsevier, vol. 147(5), pages 2028-2039.

**Full references**(including those not matched with items on IDEAS)

## Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
**Cited by:**

- Tamini, Lota Dabio, 2012.
"
**Optimal quality choice under uncertainty on market development**," Working Papers 148589, Structure and Performance of Agriculture and Agri-products Industry (SPAA). - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
**Market Allocations under Ambiguity: A Survey**," Revue économique, Presses de Sciences-Po, vol. 71(2), pages 267-282.- Antoine Billot & Jean-Marc Tallon & Sujoy Mukerji, 2019.
"
**Market Allocations under Ambiguity: A Survey**," PSE Working Papers halshs-02173491, HAL. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
**Market Allocations under Ambiguity: A Survey**," Post-Print halshs-02495663, HAL. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2019.
"
**Market Allocations under Ambiguity: A Survey**," Working Papers 897, Queen Mary University of London, School of Economics and Finance. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
**Market Allocations under Ambiguity: A Survey**," PSE-Ecole d'économie de Paris (Postprint) halshs-02495663, HAL. - Antoine Billot & Jean-Marc Tallon & Sujoy Mukerji, 2019.
"
**Market Allocations under Ambiguity: A Survey**," Working Papers halshs-02173491, HAL. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
**Market Allocations under Ambiguity: A Survey [Allocations des biens et ambiguïté : une revue de la littérature]**," PSE-Ecole d'économie de Paris (Postprint) halshs-02875162, HAL. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
**Market Allocations under Ambiguity: A Survey [Allocations des biens et ambiguïté : une revue de la littérature]**," Post-Print halshs-02875162, HAL.

- Antoine Billot & Jean-Marc Tallon & Sujoy Mukerji, 2019.
"
- Patrick Beissner & Frank Riedel, 2018.
"
**Non-implementability of Arrow–Debreu equilibria by continuous trading under volatility uncertainty**," Finance and Stochastics, Springer, vol. 22(3), pages 603-620, July. - De Castro, Luciano & Yannelis, Nicholas C., 2018.
"
**Uncertainty, efficiency and incentive compatibility: Ambiguity solves the conflict between efficiency and incentive compatibility**," Journal of Economic Theory, Elsevier, vol. 177(C), pages 678-707. - Shiri Alon & Aviad Heifetz, 2014.
"
**The logic of Knightian games**," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2(2), pages 161-182, October. - Patrick Beissner & Frank Riedel, 2014.
"
**Non-Implementability of Arrow-Debreu Equilibria by Continuous Trading under Knightian Uncertainty**," Papers 1409.6940, arXiv.org.- Riedel, Frank & Beißner, Patrick, 2016.
"
**Non-Implementability of Arrow-Debreu Equilibria by Continuous Trading under Knightian Uncertainty**," Center for Mathematical Economics Working Papers 527, Center for Mathematical Economics, Bielefeld University.

- Riedel, Frank & Beißner, Patrick, 2016.
"
- Beißner, Patrick & Riedel, Frank, 2016.
"
**Knight-Walras equilibria**," Center for Mathematical Economics Working Papers 558, Center for Mathematical Economics, Bielefeld University.- Patrick Beissner & Frank Riedel, 2016.
"
**Knight--Walras Equilibria**," Papers 1605.04385, arXiv.org.

- Patrick Beissner & Frank Riedel, 2016.
"
- Jeleva, Meglena & Tallon, Jean-Marc, 2016.
"
**Ambiguïté, comportements et marchés financiers**," L'Actualité Economique, Société Canadienne de Science Economique, vol. 92(1-2), pages 351-383, Mars-Juin.- Meglena Jeleva & Jean-Marc Tallon, 2014.
"
**Ambiguïté, comportements et marchés financiers**," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01109639, HAL. - Meglena Jeleva & Jean-Marc Tallon, 2016.
"
**Ambiguïté, comportements et marchés financiers**," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01410661, HAL. - Meglena Jeleva & Jean-Marc Tallon, 2014.
"
**Ambiguïté, comportements et marchés financiers**," Post-Print halshs-01109639, HAL. - Meglena Jeleva & Jean-Marc Tallon, 2014.
"
**Ambiguïté, comportements et marchés financiers**," Documents de travail du Centre d'Economie de la Sorbonne 14064, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne. - Meglena Jeleva & Jean-Marc Tallon, 2016.
"
**Ambiguïté, comportements et marchés financiers**," Post-Print hal-01410661, HAL. - Meglena Jeleva & Jean-Marc Tallon, 2016.
"
**Ambiguïté, comportements et marchés financiers**," PSE-Ecole d'économie de Paris (Postprint) hal-01410661, HAL.

- Meglena Jeleva & Jean-Marc Tallon, 2014.
"
- Christian Gollier, 2014.
"
**Optimal insurance design of ambiguous risks**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 57(3), pages 555-576, November.- Gollier, Christian, 2012.
"
**Optimal insurance design of ambiguous risks**," LERNA Working Papers 12.18.375, LERNA, University of Toulouse, revised Jan 2013. - Gollier, Christian, 2012.
"
**Optimal insurance design of ambiguous risks**," IDEI Working Papers 718, Institut d'Économie Industrielle (IDEI), Toulouse, revised Jan 2013. - Gollier, Christian, 2012.
"
**Optimal insurance design of ambiguous risks**," TSE Working Papers 12-303, Toulouse School of Economics (TSE), revised Jan 2013.

- Gollier, Christian, 2012.
"
- Patrick Beissner & Frank Riedel, 2019.
"
**Equilibria Under Knightian Price Uncertainty**," Econometrica, Econometric Society, vol. 87(1), pages 37-64, January.- Beißner, Patrick & Riedel, Frank, 2018.
"
**Equilibria under Knightian Price Uncertainty**," Center for Mathematical Economics Working Papers 597, Center for Mathematical Economics, Bielefeld University. - Beissner, Patrick & Riedel, Frank, 2019.
"
**Equilibria Under Knightian Price Uncertainty**," Rationality and Competition Discussion Paper Series 142, CRC TRR 190 Rationality and Competition.

- Beißner, Patrick & Riedel, Frank, 2018.
"
- Eisei Ohtaki, 2020.
"
**Optimality in an OLG model with nonsmooth preferences**," Working Papers e145, Tokyo Center for Economic Research. - Beißner, Patrick, 2016.
"
**Radner Equilibria under Ambiguous Volatility**," Center for Mathematical Economics Working Papers 493, Center for Mathematical Economics, Bielefeld University. - Tatjana Chudjakow & Frank Riedel, 2013.
"
**The best choice problem under ambiguity**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(1), pages 77-97, September.- Chudjakow, Tatjana & Riedel, Frank, 2010.
"
**The Best Choice Problem under Ambiguity**," Center for Mathematical Economics Working Papers 413, Center for Mathematical Economics, Bielefeld University.

- Chudjakow, Tatjana & Riedel, Frank, 2010.
"
- José Faro, 2013.
"
**Cobb-Douglas preferences under uncertainty**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(2), pages 273-285, October.- Faro, José Heleno, 2012.
"
**Cobb-Douglas Preferences under Uncertainty**," Insper Working Papers wpe_278, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.

- Faro, José Heleno, 2012.
"
- Frederik S. Herzberg, 2013.
"
**The (im)possibility of collective risk measurement: Arrovian aggregation of variational preferences**," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 1(1), pages 69-92, May. - Zhiwei Liu, 2014.
"
**A note on the welfare of the maximin rational expectations**," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2(2), pages 213-218, October. - Angelos Angelopoulos & Leonidas Koutsougeras, 2015.
"
**Value allocation under ambiguity**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 59(1), pages 147-167, May. - 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. - Maria Näther, 2019.
"
**The effect of the central bank’s standing facilities on interbank lending and bank liquidity holding**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 68(3), pages 537-577, October. - Michele Lombardi & Naoki Yoshihara, 2013.
"
**A full characterization of nash implementation with strategy space reduction**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(1), pages 131-151, September.- Lombardi, Michele & Yoshihara, Naoki, 2010.
"
**A Full Characterization of Nash Implementation with Strategy Space Reduction**," Discussion Paper Series a538, Institute of Economic Research, Hitotsubashi University. - Lombardi, M. & Yoshihara, N., 2010.
"
**A full characterization of Nash implementation with strategy space reduction**," Research Memorandum 023, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR). - Lombardi, Michele & Yoshihara, Naoki, 2011.
"
**A Full Characterization of Nash Implementation with Strategy Space Reduction**," Discussion Paper Series a548, Institute of Economic Research, Hitotsubashi University.

- Lombardi, Michele & Yoshihara, Naoki, 2010.
"
- Tamini, Lota D., 2012.
"
**Optimal quality choice under uncertainty on market development**," MPRA Paper 40845, University Library of Munich, Germany. - Boonen, Tim J., 2017.
"
**Risk Redistribution Games With Dual Utilities**," ASTIN Bulletin, Cambridge University Press, vol. 47(1), pages 303-329, January. - Yehuda Izhakian & Zur Izhakian, 2015.
"
**Decision making in phantom spaces**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 58(1), pages 59-98, January. - M. Peiris & Alexandros Vardoulakis, 2013.
"
**Savings and default**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(1), pages 153-180, September. - ter Ellen, Saskia & Verschoor, Willem F.C. & Zwinkels, Remco C.J., 2019.
"
**Agreeing on disagreement: Heterogeneity or uncertainty?**," Journal of Financial Markets, Elsevier, vol. 44(C), pages 17-30.- Saskia ter Ellen & Willem F.C. Verschoor & Remco C.J. Zwinkels, 2016.
"
**Agreeing on disagreement: heterogeneity or uncertainty?**," Working Paper 2016/4, Norges Bank.

- Saskia ter Ellen & Willem F.C. Verschoor & Remco C.J. Zwinkels, 2016.
"

## Most related items

These are the items that most often cite the same works as this one and are cited by the same works as this one.- Alain Chateauneuf & Luciano De Castro, 2011.
"
**Ambiguity Aversion and Absence of Trade**," Discussion Papers 1535, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Chakravarty, Surajeet & Kelsey, David, 2015.
"
**Sharing ambiguous risks**," Journal of Mathematical Economics, Elsevier, vol. 56(C), pages 1-8. - Eichberger, Jürgen & Kelsey, David, 2007.
"
**Ambiguity**," Sonderforschungsbereich 504 Publications 07-50, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.- Eichberger, Jürgen & Kelsey, David, 2007.
"
**Ambiguity**," Papers 07-50, Sonderforschungsbreich 504. - Jürgen Eichberger & David Kelsey, 2007.
"
**Ambiguity**," Working Papers 0448, University of Heidelberg, Department of Economics, revised Jul 2007.

- Eichberger, Jürgen & Kelsey, David, 2007.
"
- Eisei Ohtaki, 2020.
"
**Optimality in an OLG model with nonsmooth preferences**," Working Papers e145, Tokyo Center for Economic Research. - Eisei Ohtaki & Hiroyuki Ozaki, 2015.
"
**Monetary equilibria and Knightian uncertainty**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 59(3), pages 435-459, August.- Eisei Ohtaki & Hiroyuki Ozaki, 2013.
"
**Monetary Equilibria and Knightian Uncertainty**," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-032, Keio/Kyoto Joint Global COE Program.

- Eisei Ohtaki & Hiroyuki Ozaki, 2013.
"
- Xiangyu Qu, 2015.
"
**Purely subjective extended Bayesian models with Knightian unambiguity**," Theory and Decision, Springer, vol. 79(4), pages 547-571, December.- Xiangyu Qu, 2015.
"
**Purely subjective extended Bayesian models with Knightian unambiguity**," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01437537, HAL. - Xiangyu Qu, 2015.
"
**Purely subjective extended Bayesian models with Knightian unambiguity**," Post-Print hal-01437537, HAL.

- Xiangyu Qu, 2015.
"
- Simone Cerreia-Vioglio & Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci & Marciano Siniscalchi, 2011.
"
**Rational preferences under ambiguity**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(2), pages 341-375, October.- Simone Cerreia-Vioglio & Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci & Marciano Siniscalchi, 2010.
"
**Rational Preferences under Ambiguity**," Carlo Alberto Notebooks 169, Collegio Carlo Alberto.

- Simone Cerreia-Vioglio & Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci & Marciano Siniscalchi, 2010.
"
- Qu, Xiangyu, 2013.
"
**Maxmin expected utility with additivity on unambiguous events**," Journal of Mathematical Economics, Elsevier, vol. 49(3), pages 245-249.- Xiangyu Qu, 2013.
"
**Maxmin expected utility with additivity on unambiguous events**," Post-Print hal-01437540, HAL. - Xiangyu Qu, 2013.
"
**Maxmin expected utility with additivity on unambiguous events**," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01437540, HAL.

- Xiangyu Qu, 2013.
"
- Siniscalchi, Marciano, 2006.
"
**A behavioral characterization of plausible priors**," Journal of Economic Theory, Elsevier, vol. 128(1), pages 91-135, May.- Marciano Siniscalchi, 2003.
"
**A Behavioral Characterization of Plausible Priors**," Discussion Papers 1365, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

- Marciano Siniscalchi, 2003.
"
- Takao Asano, 2004.
"
**Portfolio Inertia under Ambiguity**," ISER Discussion Paper 0609, Institute of Social and Economic Research, Osaka University. - Yehuda Izhakian & Zur Izhakian, 2015.
"
**Decision making in phantom spaces**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 58(1), pages 59-98, January. - Eisei Ohtaki, 2016.
"
**Optimality of the Friedman rule under ambiguity**," Working Papers e103, Tokyo Center for Economic Research. - André, Eric, 2016.
"
**Crisp monetary acts in multiple-priors models of decision under ambiguity**," Journal of Mathematical Economics, Elsevier, vol. 67(C), pages 153-161.- Eric André, 2016.
"
**Crisp monetary acts in multiple-priors models of decision under ambiguity**," Post-Print hal-02311921, HAL.

- Eric André, 2016.
"
- Zimper, Alexander, 2009.
"
**Half empty, half full and why we can agree to disagree forever**," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 283-299, August. - Adam Dominiak & Jean-Philippe Lefort, 2011.
"
**Unambiguous events and dynamic Choquet preferences**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(3), pages 401-425, April.- Dominiak, Adam & Lefort, Jean-Philippe, 2009.
"
**Unambiguous Events and Dynamic Choquet Preferences**," Working Papers 0489, University of Heidelberg, Department of Economics.

- Dominiak, Adam & Lefort, Jean-Philippe, 2009.
"
- Klaus Nehring, 2006.
"
**Bernoulli Without Bayes: A Theory of Utility-Sophisticated Preferences under Ambiguity**," Economics Working Papers 0072, Institute for Advanced Study, School of Social Science. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
**Market Allocations under Ambiguity: A Survey**," Revue économique, Presses de Sciences-Po, vol. 71(2), pages 267-282.- Antoine Billot & Jean-Marc Tallon & Sujoy Mukerji, 2019.
"
**Market Allocations under Ambiguity: A Survey**," PSE Working Papers halshs-02173491, HAL. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2019.
"
**Market Allocations under Ambiguity: A Survey**," Working Papers 897, Queen Mary University of London, School of Economics and Finance. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
**Market Allocations under Ambiguity: A Survey [Allocations des biens et ambiguïté : une revue de la littérature]**," PSE-Ecole d'économie de Paris (Postprint) halshs-02875162, HAL. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
**Market Allocations under Ambiguity: A Survey**," PSE-Ecole d'économie de Paris (Postprint) halshs-02495663, HAL. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
**Market Allocations under Ambiguity: A Survey**," Post-Print halshs-02495663, HAL. - Antoine Billot & Sujoy Mukerji & Jean-Marc Tallon, 2020.
"
- Antoine Billot & Jean-Marc Tallon & Sujoy Mukerji, 2019.
"
**Market Allocations under Ambiguity: A Survey**," Working Papers halshs-02173491, HAL.

- Antoine Billot & Jean-Marc Tallon & Sujoy Mukerji, 2019.
"
- Dean, Mark & Ortoleva, Pietro, 2017.
"
**Allais, Ellsberg, and preferences for hedging**," Theoretical Economics, Econometric Society, vol. 12(1), January.- Mark Dean & Pietro Ortoleva, 2012.
"
**Allais, Ellsberg, and Preferences for Hedging**," Working Papers 2012-2, Brown University, Department of Economics.

- Mark Dean & Pietro Ortoleva, 2012.
"
- Miao, Jianjun & Wang, Neng, 2011.
"
**Risk, uncertainty, and option exercise**," Journal of Economic Dynamics and Control, Elsevier, vol. 35(4), pages 442-461, April.- Jianjun Miao & Neng Wang, 2004.
"
**Risk, Uncertainty, and Option Exercise**," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-136, Boston University - Department of Economics. - Jianjun Miao & Neng Wang, 2010.
"
**Risk, uncertainty,and option exercise**," Boston University - Department of Economics - Working Papers Series WP2010-029, Boston University - Department of Economics. - Jianjun Miao, 2004.
"
**Risk, uncertainty and option exercise**," Finance 0410013, University Library of Munich, Germany. - Jianjun Miao & Neng Wang, 2007.
"
**Risk, Uncertainty, and Option Exercise**," Boston University - Department of Economics - Working Papers Series WP2007-016, Boston University - Department of Economics.

- Jianjun Miao & Neng Wang, 2004.
"
- Ghirardato, Paolo & Siniscalchi, Marciano, 2018.
"
**Risk sharing in the small and in the large**," Journal of Economic Theory, Elsevier, vol. 175(C), pages 730-765.

## More about this item

### Keywords

Ambiguity aversion; Pareto optimality;### JEL classification:

**D51**- Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies**D6**- Microeconomics - - Welfare Economics**D8**- Microeconomics - - Information, Knowledge, and Uncertainty

### Statistics

Access and download statistics## Corrections

All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: *RePEc:hal:cesptp:hal-00685408*. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD). General contact details of provider: https://hal.archives-ouvertes.fr/ .

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.