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https://hdl.handle.net/10419/49875
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Galaabaatar, Tsogbadral | en |
dc.contributor.author | Karni, Edi | en |
dc.date.accessioned | 2010-11-04 | - |
dc.date.accessioned | 2011-09-27T15:21:10Z | - |
dc.date.available | 2011-09-27T15:21:10Z | - |
dc.date.issued | 2010 | - |
dc.identifier.uri | http://hdl.handle.net/10419/49875 | - |
dc.description.abstract | This paper extends the expected utility models of decision making under risk and under uncertainty to include incomplete beliefs and tastes. The main results are two axiomatizations of the multi-prior expected multi-utility representations of preference relation under uncertainty, thereby resolving long standing open questions. The Knightian uncertainty model and expected multi-utility model with complete beliefs are obtained as special cases. In addition, the von Neumann-Morgenstern expected utility model with incomplete preferences is revisited using a 'constructive' approach, as opposed to earlier treatments that use convex analysis. | en |
dc.language.iso | eng | en |
dc.publisher | |aThe Johns Hopkins University, Department of Economics |cBaltimore, MD | en |
dc.relation.ispartofseries | |aWorking Paper |x572 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Incomplete preferences | en |
dc.subject.keyword | Knightian uncertainty | en |
dc.subject.keyword | Multiprior expected multi-utility representations | en |
dc.subject.keyword | Incomplete beliefs | en |
dc.subject.keyword | Incomplete tastes | en |
dc.title | Objective and subjective expected utility with incomplete preferences | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 638477700 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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