We solve the problem of an investor who maximizes utility but is uncertain about preferences. We propose a problem formulation based on expected certainty equivalents. We tackle the time-consistency issues arising from that formulation by applying the equilibrium theory approach. To this end, we...

The scope of this paper is to enhance the model for the own-company stockholder (given in Desmettre, Gould and Szimayer (2010)), who can voluntarily performance-link his personal wealth to his man- agement success by acquiring stocks in the own-company whose value he can directly influence via...