On Uncertainty Aversion under Complete Ignorance: Some Further Observations on the Impossibility Results

Ruvin Gekker ()
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Ruvin Gekker: Department of Economics, National University of Ireland, Galway

No 90, Working Papers from National University of Ireland Galway, Department of Economics

Abstract: The paper claims that the Monotone Consistency condition utilized by Baigent in his proof of the impossibility theorem is too strong. We factorize this condition into two different weaker conditions and show that they are inconsistent with some variants of the Simple Uncertainty Aversion and the Simple Uncertainty Appeal conditions in the presence of the Independence condition.

Keywords: complete ignorance; uncertainty aversion; uncertainty appeal (search for similar items in EconPapers)
JEL-codes: D83 (search for similar items in EconPapers)
Date: 2005, Revised 2005
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