Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/247191 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
Working Paper No. 922
Verlag: 
Queen Mary University of London, School of Economics and Finance, London
Zusammenfassung: 
The α-MEU model and the smooth ambiguity model are two popular models in decision making under ambiguity. However, the axiomatic foundations of these two models are not completely understood. We provide axiomatic foundations of these models in a symmetric setting with a product state space S∞. This setting allows marginals over S to be linked behaviorally with (limiting frequency) events. Bets on such events are shown to reveal the i.i.d. measures that are relevant for the decision maker's preferences and appear in the representations. By characterizing both models within a common framework, it becomes possible to better compare and relate them.
Schlagwörter: 
Symmetry
beliefs
ambiguity
multiple priors
smooth ambiguity
JEL: 
D01
D80
D81
D83
Dokumentart: 
Working Paper

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