Preferences with changing ambiguity aversion
We provide two extensions of Gilboa and Schmeidler (J Math Econ 18:141–153, 1989)’s maxmin expected utility decision rule to accommodate a decision maker’s changing ambiguity attitudes. The two rules are, respectively, a weighted maxmin rule and a variant constraint rule. The former evaluates an act...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2020
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/2237 https://ink.library.smu.edu.sg/context/soe_research/article/3236/viewcontent/PreferencesWithChangingAmbiguity_afv.pdf |
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| Institution: | Singapore Management University |
| Language: | English |