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Aggregation of Monotonic Bernoullian Archimedean preferences : Arrovian impossibility results

Herzberg, Frederik - 2013

proposed a very general axiomatisation of preferences in the presence of ambiguity, viz. Monotonic Bernoullian Archimedean (MBA …

Persistent link: https://www.econbiz.de/10010187944

Arrovian aggregation of MBA preferences : an impossibility result ; conference paper

Herzberg, Frederik - 2013

axiomatised preferences in the presence of ambiguity as Monotonic Bernoullian Archimedean (MBA) preferences. We investigate the …

Persistent link: https://www.econbiz.de/10010338890

The evolutionary stability of optimism, pessimism and complete ignorance

Schipper, Burkhard - 2005

We provide an evolutionary foundation to evidence that in some situations humans maintain optimistic or pessimistic attitudes towards uncertainty and are ignorant to relevant aspects of the environment. Players in strategic games face Knightian uncertainty about opponents' actions and maximize...

Persistent link: https://www.econbiz.de/10010366542

The evolutionary stability of optimism, pessimism, and complete ignorance

Schipper, Burkhard - 2019

We provide an evolutionary foundation to evidence that in some situations humans maintain either optimistic or pessimistic attitudes towards uncertainty and are ignorant to relevant aspects of the environment. Players in strategic games face Knightian uncertainty about opponents' actions and...

Persistent link: https://www.econbiz.de/10012101422

The Source of Uncertainty in Probabilistic Preferences Over Gambles

Charles-Cadogan, G. - 2012

inapplicable to ambiguity aversion. Third, when unobserved probability distributions are constrained by partially revealed …

Persistent link: https://www.econbiz.de/10013113294

Ellsberg meets Keynes at an urn

Chew, Soo-Hong; Miao, Bin; Zhong, Songfa - In: Quantitative economics : QE ; journal of the … 14 (2023) 3, pp. 1133-1162

toward multiple‐prior uncertainties in terms of ambiguity and its corresponding compound risk. Our findings point to a shared …

Persistent link: https://www.econbiz.de/10014362573

Preferences under ambiguity without event-separability : conference paper

Borah, Abhinash; Kops, Christopher - 2014

We propose and axiomatically characterize a representation of ambiguity sensitive preferences. The distinguishing … maker exhibits a consistent tradeoff between risk and ambiguity concerns. Under our representation of her preferences, any … ambiguity. …

Persistent link: https://www.econbiz.de/10010491097

Updating preferences with multiple priors

Hanany, Eran; Klibanoff, Peter - In: Theoretical economics : TE ; an open access journal in … 2 (2007) 3, pp. 261-298

We propose and axiomatically characterize dynamically consistent update rules for decision making under ambiguity … of preferences over acts, to be able to reconcile typical behavior in the face of ambiguity (as exemplified by Ellsberg …

Persistent link: https://www.econbiz.de/10011702323

First-order and second-order ambiguity aversion

Lang, Matthias - 2015

differences lies in the dichotomy between first-order and second-order ambiguity aversion which I define here. My definition and …-order ambiguity aversion a positive exposure to ambiguity is optimal if and only if there is a subjective belief such that the actś … expected outcome is positive. With first-order ambiguity aversion, zero exposure to ambiguity can be optimal. Examples in …

Persistent link: https://www.econbiz.de/10011349377

Objective rationality and uncertainty averse preferences

Cerreia-Vioglio, Simone - In: Theoretical economics : TE ; an open access journal in … 11 (2016) 2, pp. 523-545

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....

Persistent link: https://www.econbiz.de/10011672025