Strength of preference over complementary pairs axiomatizes alpha-MEU preferences

Lorenz Hartmann

Journal of Economic Theory, 2023, vol. 213, issue C

Abstract: Preferences over acts have an α-Maxmin Expected Utility (α-MEU) representation if they can be represented by the α-mixture of the worst and the best expected utility over a set of priors. The case α=1 is the Maxmin Expected Utility (MEU) model characterized in Gilboa and Schmeidler (1989).

Keywords: α-Maxmin expected utility; Complementary pairs; Ambiguity (search for similar items in EconPapers)
JEL-codes: D80 D81 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:213:y:2023:i:c:s0022053123001151

DOI: 10.1016/j.jet.2023.105719

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