RECURSIVE AMBIGUITY AND MACHINA'S EXAMPLES
نویسندگان
چکیده
منابع مشابه
Recursive Ambiguity and Machina's Examples
Machina (2009, 2012) lists a number of situations where standard models of ambiguity aversion are unable to capture plausible features of ambiguity attitudes. Most of these problems arise in choice over prospects involving three or more outcomes. We show that the recursive non-expected utility model of Segal (1987) is rich enough to accommodate all these situations. JEL Classification number: D81
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ژورنال
عنوان ژورنال: International Economic Review
سال: 2015
ISSN: 0020-6598
DOI: 10.1111/iere.12094