What Do Uncertainty-Averse Decision-Makers Believe? A Note

ResearchSpace/Manakin Repository

Show simple item record

dc.contributor.author Ryan, Matthew en
dc.date.accessioned 2006-11-30T20:53:18Z en
dc.date.available 2006-11-30T20:53:18Z en
dc.date.issued 1999 en
dc.identifier.citation Department of Economics Working Paper Series 189 en
dc.identifier.uri http://hdl.handle.net/2292/143 en
dc.description.abstract The aim of this note is to plug an important gap in our understanding of the epistemic foundations of uncertainty-averse behavior. For Choquet expected utility maximizers (Schmeidler (1989)), the beliefs which motivate uncertainty-averse choice are frequently identified using Dow and Werlang's (1994) notion of support for convex capacities. Building on the work of Morris (1997), we present a new, preference-based belief operator which is is shown to characterize such epistemic inferences. This makes their behavioral foundations transparent, and enables readier comparison with alternative epistemic models for such behavior. en
dc.format.extent application/pdf en
dc.format.mimetype text en
dc.language.iso en en
dc.publisher ResearchSpace@Auckland en
dc.relation.ispartofseries Department of Economics Working Paper Series (1997-2006) en
dc.rights Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. en
dc.rights.uri https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm en
dc.subject.other Economics en
dc.title What Do Uncertainty-Averse Decision-Makers Believe? A Note en
dc.type Working Paper en
dc.rights.holder Copyright: the author en
dc.rights.accessrights http://purl.org/eprint/accessRights/OpenAccess en
pubs.org-id Economics en

Full text options

Find Full text

This item appears in the following Collection(s)

Show simple item record


Search ResearchSpace

Advanced Search