Journal article
Definitions of Ambiguous Events and the Smooth Ambiguity Model.
- Abstract:
-
We examine a variety of preference-based definitions of ambiguous events in the context of the smooth ambiguity model. We first consider the definition proposed in Klibanoff et al. (Econometrica 73(6):1849-1892, 2005) based on the classic Ellsberg two-urn paradox (Ellsberg Q J Econ 75:643-669, 1961) and show that it satisfies several desirable properties. We then compare this definition with those of Nehring (Math Soc Sci 38(2):197-213, 1999), Epstein and Zhang (Econometrica 69:265-306, 2001)...
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Bibliographic Details
- Publisher:
- Springer
- Journal:
- Economic Theory
- Volume:
- 48
- Issue:
- 2
- Pages:
- 399 - 424
- Publication date:
- 2011-01-01
- DOI:
- ISSN:
-
0938-2259
Item Description
- Language:
- English
- UUID:
-
uuid:05483e69-5a76-44f0-80e5-1538f40971a1
- Local pid:
- oai:economics.ouls.ox.ac.uk:15194
- Deposit date:
- 2011-08-16
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- Copyright date:
- 2011
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