Risk, Ambiguity, and the Separation of Utility and Beliefs
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Publication:5704059
DOI10.1287/moor.26.4.864.10002zbMath1082.91513OpenAlexW2151461472MaRDI QIDQ5704059
Paolo Ghirardato, Massimo Marinacci
Publication date: 11 November 2005
Published in: Mathematics of Operations Research (Search for Journal in Brave)
Full work available at URL: https://resolver.caltech.edu/CaltechAUTHORS:20170808-154249780
Related Items (51)
Introduction to the special issue in honor of Peter Wakker ⋮ On the cardinal utility equivalence of biseparable preferences ⋮ Purely subjective variational preferences ⋮ Stability analysis of tree structured decision functions ⋮ Differentiating ambiguity and ambiguity attitude ⋮ Appeals immune bargaining solution with variable alternative sets ⋮ Ambiguous events and maxmin expected utility ⋮ Foundations of neo-Bayesian statistics ⋮ Bayesian beliefs with stochastic monotonicity: an extension of Machina and Schmeidler ⋮ Decision making under incomplete data using the imprecise Dirichlet model ⋮ Reexamination on updating Choquet beliefs ⋮ A powerful tool for analyzing concave/convex utility and weighting functions ⋮ Purely subjective maxmin expected utility ⋮ Coherence without additivity. ⋮ Source and rank-dependent utility ⋮ Risk analysis and decision theory: a bridge ⋮ All at once! A comprehensive and tractable semi-parametric method to elicit prospect theory components ⋮ Bargaining with subjective mixtures ⋮ A contextual range-dependent model for choice under risk ⋮ Purely subjective extended Bayesian models with Knightian unambiguity ⋮ Ambiguity and the Bayesian Paradigm ⋮ An alternative axiomatization of intertemporal utility smoothing ⋮ Rational preferences under ambiguity ⋮ Utility independence of multiattribute utility theory is equivalent to standard sequence invariance of conjoint measurement ⋮ Proper scoring rules for general decision models ⋮ Representation and aggregation of preferences under uncertainty ⋮ Concave/convex weighting and utility functions for risk: a new light on classical theorems ⋮ A belief-based definition of ambiguity aversion ⋮ The ordinal Nash social welfare function ⋮ Choice under uncertainty with the best and worst in mind: Neo-additive capacities ⋮ Mutual absolute continuity of multiple priors ⋮ A simple non-parametric method for eliciting prospect theory's value function and measuring loss aversion under risk and ambiguity ⋮ Evaluating ambiguous random variables from Choquet to maxmin expected utility ⋮ Certainty independence and the separation of utility and beliefs ⋮ Increasing uncertainty: a definition ⋮ The no-trade interval of Dow and Werlang: some clarifications ⋮ More likely than unlikely ⋮ Portfolio allocation problems between risky and ambiguous assets ⋮ Parametric weighting functions ⋮ The multiple priors of the open-minded decision maker ⋮ Eliciting beliefs ⋮ Belief hedges: Measuring ambiguity for all events and all models ⋮ Ambiguity aversion and wealth effects ⋮ Revealed reasoning ⋮ Framing effects as violations of extensionality ⋮ Discrete Arrow-Pratt indexes for risk and uncertainty ⋮ Measuring Beliefs Under Ambiguity ⋮ Calibrated uncertainty ⋮ A general theory of subjective mixtures ⋮ All probabilities are equal, but some probabilities are more equal than others ⋮ The likelihood method for decision under uncertainty
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