This paper studies how updating affects ambiguity attitude. In particular we focus on generalized Bayesian updating of the Jaffray–Philippe sub-class of Choquet Expected Utility preferences. We find conditions for ambiguity attitude to be the same before and after updating. A necessary and...

This paper shows that, for CEU preferences, the axioms consquentialism, state independence and conditional certainty equivalent consistency under updating characterise a family of capacities, called Genralised Neo-Additive Capacities (GNAC). This family contains as special cases among others...

We present two axiomatizations of the Second-Order Expected Utility model in the context of the standard models of choice under uncertainty.

We axiomatize, in an Anscombe–Aumann framework, the class of preferences that admit a representation of the form V(f)=μ−ρ(d), where μ is the mean utility of the act f with respect to a given probability, d is the vector of state-by-state utility deviations from the mean, and ρ(d) is a...

We provide an axiomatization of expected equally-distributed equivalent-utility social welfare functions in the context of Harsanyiʼs impartial observer theorem. For this family of social welfare functions, we show what additional axiom is necessary and sufficient for the observer to exhibit...