Preferences with changing ambiguity aversion

Preferences with changing ambiguity aversion

This paper provides two equivalent representations for thegeneral class of uncertainty averse preferences studied by Cerreia-Vioglio,Maccheroni, Marinacci and Montrucchio (2011). The two representations employrespectively two important extensions of Gilboa and Schmeidler (1989)’s maxmindecision rule...

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Bibliographic Details
Main Author: Jingyi XUE
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2017
Subjects:
Ambiguity
Uncertainty averse preferences
Weighted maxmin representation
Variant constraint representation
Decreasing absolute uncertainty aversion
Increasing relativeUncertainty aversion
Wealth effect
Economic Theory
Online Access:https://ink.library.smu.edu.sg/soe_research/1904
https://ink.library.smu.edu.sg/context/soe_research/article/2903/viewcontent/preferences_with_changing_ambiguity_aversion__revised_.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soe_research/1904
https://ink.library.smu.edu.sg/context/soe_research/article/2903/viewcontent/preferences_with_changing_ambiguity_aversion__revised_.pdf

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