Ambiguity Revealed

Subir Bose, Matthew Polisson and Ludovic Renou

No 12/07, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester

Abstract: We derive necessary and suffcient conditions for data sets composed of state-contingent prices and consumption to be consistent with two prominent models of decision making under ambiguity: variational preferences and smooth ambiguity. The revealed preference conditions for the maxmin expected utility and subjective expected utility models are characterized as special cases.

Keywords: Ambiguity; revealed preference; maxmin; variational preferences; expected utility; smooth; uncertainty (search for similar items in EconPapers)
Date: 2012-04
New Economics Papers: this item is included in nep-mic and nep-upt
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Citations: View citations in EconPapers (5)

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Related works:
Working Paper: Ambiguity Revealed (2013)
Working Paper: Ambiguity revealed (2013)
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