One of the most well-known models of non-expected utility is Gul (1991)'s model of Disappointment Aversion. This model, however, is defined implicitly, as the solution to a functional equation; its explicit utility representation is unknown, which may limit its applicability. We show that an...

As in Gilboa, Maccheroni, Marinacci, and Schmeidler \cite{GMMS}, we consider a decision maker characterized by two binary relations: $\succsim^{\ast}$ and $\succsim^{{\small \wedge}}$. The first binary relation is a Bewley preference. It\ models the rankings for which the decision maker is sure....

One of the most well known models of non‐expected utility is Gul's (1991) model of disappointment aversion. This model, however, is defined implicitly, as the solution to a functional equation; its explicit utility representation is unknown, which may limit its applicability. We show that an...

As in Gilboa, Maccheroni, Marinacci, and Schmeidler \cite{GMMS}, we consider a decision maker characterized by two binary relations: $\succsim^{\ast}$ and $\succsim^{{\small \wedge}}$. The first binary relation is a Bewley preference. It\ models the rankings for which the decision maker is sure....

Battigalli and Siniscalchi (2002) formalize the idea of forward induction reasoning as "rationality and common strong belief of rationality" (RCSBR). Here, we study the behavioral implications of RCSBR across all type structures. Formally, we show that RCSBR is characterized by a solution...

Battigalli and Siniscalchi (2002) formalize the idea of forward induction reasoning as "rationality and common strong belief of rationality" (RCSBR). Here, we study the behavioral implications of RCSBR across all type structures. Formally, we show that RCSBR is characterized by a solution...

The paper considers an agent who must choose an action today under uncertainty about the consequence of any chosen action but without having in mind a complete list of all the contingencies that could influence outcomes. She conceives of some relevant (subjective) contingencies but she is aware...

The paper considers an agent who must choose an action today under uncertainty about the consequence of any chosen action but without having in mind a complete list of all the contingencies that could influence outcomes. She conceives of some relevant (subjective) contingencies but she is aware...