Are probabilities used in markets?

DOI10.1006/JETH.1999.2590zbMath0958.91009OpenAlexW2068577370MaRDI QIDQ1566905

Larry G. Epstein

Publication date: 16 April 2001

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1006/jeth.1999.2590

zbMATH Keywords

uncertaintyambiguityprobabilitiesEllsberg paradoxasset demands

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Individual preferences (91B08)

Related Items (6)

A test for risk-averse expected utility ⋮ Ellsberg's two-color experiment, portfolio inertia and ambiguity. ⋮ Characterizations of Smooth Ambiguity Based on Continuous and Discrete Data ⋮ Uncertainty aversion vs. competence: An experimental market study ⋮ A theory of quantifiable beliefs ⋮ Testable implications of subjective expected utility theory

Cites Work

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• Maxmin expected utility with non-unique prior
• Bounded rationality in individual decision making
• Rationalizability and the savage axioms
• Risk, Ambiguity, and the Savage Axioms
• Subjective Probability and Expected Utility without Additivity
• A More Robust Definition of Subjective Probability

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