Ambiguity, measurability and multiple priors
نویسندگان
چکیده
منابع مشابه
Ambiguity, Measurability and Multiple Priors
The paper provides a notion of measurability which is suited for a class of Multiple Prior Models. Those characterized by nonatomic countably additive priors. Preferences generating such representations have been recently axiomatized in [12]. A notable feature of our definition of measurability is that an event is measurable if and only if it is unambiguous in the sense of Ghirardato, Maccheron...
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Ambiguity aversion, or the preference for options with known rather than unknown probabilities, is a robust finding within the decision making literature (see Camerer & Weber, 1992, for a review). There are some suggestions this averseness is due differences in the inferred prior distribution (Güney & Newell, 2015). In this study we investigated the relationship between prior distributions and ...
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The functional defined as the ‘min’ of integrals with respect to probabilities in a given non-empty closed and convex class appears prominently in recent work on uncertainty in economics. In general, such a functional violates the additivity of the expectations operator. We characterize the types of functions over which additivity of this functional is preserved. This happens exactly when ‘inte...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2005
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-004-0559-4