Uncertainty averse preferences

Simone Cerreia-Vioglio, F. Maccheroni, Massimo Marinacci and Luigi Montrucchio

Journal of Economic Theory, 2011, vol. 146, issue 4, pages 1275-1330

Abstract: We study uncertainty averse preferences, that is, complete and transitive preferences that are convex and monotone. We establish a representation result, which is at the same time general and rich in structure. Many objective functions commonly used in applications are special cases of this representation.

Keywords: Ambiguity; Games; against; nature; Smooth; ambiguity; preferences; Uncertainty; aversion; Variational; preferences (search for similar items in EconPapers)
Date: 2011
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Working Paper: Uncertainty Averse Preferences (2008)
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Persistent link: http://EconPapers.repec.org/RePEc:eee:jetheo:v:146:y:2011:i:4:p:1275-1330

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