Risk and uncertainty aversion on certainty equivalent functions
The author discusses the decision making under risk and under uncertainty situations. On extending an earlier investigation (Montesano, 1995) in which risk aversions have been analyzed for two specific models, the rank dependent expected utility model and the Choquet EU model, in this paper the author considers very general preferences on lotteries and acts. That is, preferences are only assumed to be represented by a certainty equivalent function; no specific model is introduced. The analysis is done for finite lotteries and acts with unidimensional consequences.NEWLINENEWLINEFor the entire collection see [Zbl 0958.00049].
scientific article; zbMATH DE number 1643854