ISSN:
1432-0479
Schlagwort(e):
Keywords and Phrases: Uncertainty
;
Uncertainty aversion
;
Choquet expected utility
;
Capacity
;
Convex capacity
;
Risk aversion
;
Ambiguity
;
Non-additive probability.
;
JEL Classification Numbers: C69
;
D81.
Quelle:
Springer Online Journal Archives 1860-2000
Thema:
Wirtschaftswissenschaften
Notizen:
Summary. Debreu proposed the notion of `least concave utility' as a way to disentangle risk attitudes from the certainty preferences embedded in a von-Neumann Morgenstern index. This paper studies preferences under uncertainty, as opposed to risk, and examines a corresponding decomposition of preference. The analysis is carried out within the Choquet expected utility model of preference and is centered on the notion of a least convex capacity.
Materialart:
Digitale Medien
URL:
http://dx.doi.org/10.1007/s001990050254
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