Probabilistically Sophisticated Multiple Priors
Simon Grant and
Atsushi Kajii
No 608, KIER Working Papers from Kyoto University, Institute of Economic Research
Abstract:
We characterize the intersection of the probabilistically sophisticated and multiple prior models. We show this class is strictly larger than the subjective expected utility model and that its elements can be generated from a generalized class of the -contaminated priors, which we dub the - contaminated/ -truncated prior.
Keywords: subjective probability; maximin expected utility; epsilon-contamined priors. (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Pages: 27pages
Date: 2005-10
New Economics Papers: this item is included in nep-ecm and nep-upt
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Citations: View citations in EconPapers (4)
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Persistent link: https://EconPapers.repec.org/RePEc:kyo:wpaper:608
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