Probabilistically Sophisticated Multiple Priors.

We characterize the intersection of the probabilistically sophisticated and multiple prior models. We show this class is strictly larger than the subjective expected utility model and that its elements can be generated from a generalized class of the -contaminated priors, which we dub the - contaminated/ -truncated prior.

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Year of publication:	2005-10
Authors:	Grant, Simon ; Kajii, Atsushi
Institutions:	Institute of Economic Research, Kyoto University
Subject:	subjective probability \| maximin expected utility \| epsilon-contamined priors

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Extent:	application/pdf
Series:	KIER Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 608 27 pages longages
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005125096