We present a decision theory which models and axiomatizes a decision-making procedure. This procedure involves two … negative focus, respectively; in the second step, based on the foci of all actions, a decision maker chooses a most … tail-separability, and handles decision making with risk or under ambiguity or under ignorance within a unified framework …

utility function can be represented as a convex mixture between worst and best case, but now at the local, infinitesimal level …. We study the properties of the utility function and provide an Arrow- Pratt approximation of the static and dynamic …

We review some of the (theoretical) economic implications of David Schmeidler's models of decision under uncertainty … (Choquet expected utility and maxmin expected utility) in competitive market settings. We start with the portfolio inertia … equilibrium implications (indeterminacies, non revelation of information) of these decision models. A section is then devoted to …