A Simple Characterization of the Hurwicz Criterium under Uncertainty

Alain Chateauneuf, Caroline Ventura and Vassili Vergopoulos

Revue économique, 2020, vol. 71, issue 2, 331-336

Abstract: Schmeidler [1986], [1989] famously used his nonadditive probability model to describe a decision-maker?s uncertainty aversion and/or uncertainty loving. This short note illustrates how nonadditive probability can also be used to obtain a simple characterization of the Hurwicz criterium, where the decision-maker has a balanced attitude towards uncertainty, intermediate between full aversion and full loving. JEL Codes: D81.

Keywords: Schmeidler’s model; Hurwicz criterium; aversion and attraction with respect to uncertainty (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Simple Characterization of the Hurwicz Criterium under Uncertainty (2020)
Working Paper: Simple Characterization of the Hurwicz Criterium under Uncertainty (2020)
Working Paper: Simple Characterization of the Hurwicz Criterium under Uncertainty (2020)
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