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Uncertainty Averse Preferences

Simone Cerreia-Vioglio, Fabio Maccheroni, Massimo Marinacci and Luigi Montrucchio

No 77, Carlo Alberto Notebooks from Collegio Carlo Alberto

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 same time general and rich in structure. Many objective functions commonly used in applications are special cases of this representation.

Keywords: ambiguity aversion; games against nature; model uncertainty; smooth ambiguity preferences; variational preferences (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Pages: 81 pages
Date: 2008
New Economics Papers: this item is included in nep-upt
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Journal Article: Uncertainty averse preferences (2011) Downloads
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