Economic theory, 2011-10, Vol.48 (2/3), p.341-375
2011
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- Autor(en) / Beteiligte
- Titel
- Rational preferences under ambiguity
- Ist Teil von
- Economic theory, 2011-10, Vol.48 (2/3), p.341-375
- Ort / Verlag
- Berlin/Heidelberg: Springer
- Erscheinungsjahr
- 2011
- Quelle
- Business Source Ultimate (EBSCOhost)
- Beschreibungen/Notizen
- This paper analyzes preferences in the presence of ambiguity that are rational in the sense of satisfying the classical ordering condition as well as monotonicity. Under technical conditions that are natural in an Anscombe-Aumann environment, we show that even for such a general preference model, it is possible to identify a set of priors, as first envisioned by Ellsberg (Q J Econ 75: 643-669, 1961). We then discuss ambiguity attitudes, as well as unambiguous acts and events, for the class of rational preferences we consider.
- Sprache
- Englisch
- Identifikatoren
- ISSN: 0938-2259eISSN: 1432-0479DOI: 10.1007/s00199-011-0643-5Titel-ID: cdi_proquest_journals_894629645
- Format
- –
- Schlagworte
- Ambiguity, Attitudes, Axioms, Betting, Binary relations, Convexity, Economic models, Economic theory, Economic Theory/Quantitative Economics/Mathematical Methods, Economics, Economics and Finance, Expected utility, Game Theory, Mathematical functions, Mathematical monotonicity, Microeconomics, Preferences, Public Finance, Rationality, Social and Behav. Sciences, Studies, Symposium, Utility functions