This paper axiomatizes an intertemporal version of the Smooth Ambiguity decision model developed in [P. Klibanoff, M. Marinacci, S. Mukerji, A smooth model of decision making under ambiguity, Econometrica 73 (6) (2005) 1849-1892]. A key feature of the model is that it achieves a separation...

We propose and characterize a model of preferences over acts such that the decision maker prefers act f to act g if and only if <openface>E</openface>_μφ( <openface>E</openface>_πu&cir;f) &ges; <openface>E</openface>_μφ( <openface>E</openface>_πu&cir;g), where <openface>E</openface> is the expectation operator, u is a von Neumann-Morgenstern utility function, φis an increasing transformation, and μis a...

Existential and constructive solutions to the classic problems of fair division are known for individuals with constant marginal evaluations. By considering nonatomic concave capacities instead of nonatomic probability measures, we extend some of these results to the case of individuals with...