We prove the existence of Pareto optimal allocations within sets of acceptable allocations when decision makers have probabilistic sophisticated variational preferences dened on random endowments in L1.

It is shown that Pn -- P0 weakly (i.e. [latin small letter f with hook][latin small letter f with hook]dPn -- [latin small letter f with hook][latin small letter f with hook]dP0 for every continuous and bounded function [latin small letter f with hook] defined on ) for probability measures Pn,...