Uncertainty Aversion and Dynamic Consistency

Jürgen Eichberger · David H. Kelsey

36 citations0/0 files storedInternational Economic Review

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Decision-Making and Behavioral Economics Experimental Behavioral Economics Studies Economic theories and models

Abstract

This paper applies a proposal of M. Machina (1989) for updating nonexpected utility preferences to D. Schmeidler's (1989) nonadditive probability model. The authors discover that the updated preferences may not themselves satisfy Schmeidler's axioms. Despite this, the updates of uncertainty averse preferences are themselves uncertainty averse. Copyright 1996 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 36 citations exist upstream.

Cited by

1998The voluntary contributions mechanism with uncertain group payoffs 2010The Ambiguity Premium vs. the Risk Premium under Limited Market Participation 2004CEU preferences and dynamic consistency 2000Non-Additive Beliefs in Solvable Games 2012Information and ambiguity: herd and contrarian behaviour in financial markets 1997A Single-Stage Approach to Anscombe and Aumann's Expected Utility 2018Making the Anscombe-Aumann approach to ambiguity suitable for descriptive applications 2014How do subjects view multiple sources of ambiguity?

Imported from OpenAlex (CC0) — nothing here is generated.