De Finetti Meets Ellsberg

Larry Epstein and Kyoungwon Seo

CIRANO Working Papers from CIRANO

Abstract: The paper outlines an exchangeable non-Bayesian model of preference generalizing the Savage/de Finetti classic model of subjective expected utility preference with an exchangeable prior. The treatment is informal, and the emphasis is on motivation and potential applications rather than on axiomatic foundations and technical details. The objective is to provide a widely accessible introduction to research that is reported in detail elsewhere.

Keywords: Savage/de Finetti classic model; Ellsberg Paradox (search for similar items in EconPapers)
Date: 2013-09-01
New Economics Papers: this item is included in nep-mic and nep-upt
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https://cirano.qc.ca/files/publications/2013s-35.pdf

Related works:
Journal Article: De Finetti meets Ellsberg (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:cir:cirwor:2013s-35

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