I extend Machina and Schmeidler’s (1992) model of probabilistic sophistication to unbounded uncertain prospects (acts) and derive risk preferences over the induced probability distributions (lotteries) with unbounded support. For example, risk preferences can be derived over normal, exponential, and Poisson families of probability distributions. My extension uses a version of Arrow’s (1970) Mon...

Abstract We consider some classes of piecewise expanding maps in finite dimensional spaces having invariant probability measures which are absolutely continuous with respect to Lebesgue measure. derive an entropy formula for such and, using this formula, we present sufficient conditions the continuity that parameter parametrized families maps. apply our results a classical one-dimensional famil...

Abstract. We consider perturbations of quadratic maps fa admitting an absolutely continuous invariant probability measure, where a is in a certain positive measure set A of parameters, and show that in any neighborhood of any such an fa, we find a rich fauna of dynamics. There are maps with periodic attractors as well as non-periodic maps whose critical orbit is absorbed by the continuation of ...