Uncertainty Aversion in Nonprobabilistic Decision Models

Walter Bossert

Working Papers from University of Waterloo, Department of Economics

Abstract: This paper proposes a definition of uncertainty aversion for nonprobabilistic decision models and characterizes the decision rules that are uncertainty averses in that sense. Dual results are obtained for uncertainty appeal and it is shown that imposing an uncertainty neutrality condition leads to an impossibility result.

Keywords: DECISION MAKING; RISK (search for similar items in EconPapers)
JEL-codes: D80 D81 (search for similar items in EconPapers)
Pages: 13 pages
Date: 1996
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Journal Article: Uncertainty aversion in nonprobabilistic decision models (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:wat:wpaper:9609

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