Discrepancies between ex ante and ex post efficiency under identical subjective probabilities (Q1865222)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Discrepancies between ex ante and ex post efficiency under identical subjective probabilities |
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Discrepancies between ex ante and ex post efficiency under identical subjective probabilities (English)
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25 March 2003
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The author considers identical subjective probabilities. Risk, risk attraction is admitted. He finds that under independent zero-date utility, and as long as ex post preferences satisfy the natural assumption of quasiconvexity, an ex ante efficient allocation is ex post efficient, but the converse is not necessarily true under risk attraction.
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ex post efficiency
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ex ante vs. ex post welfare
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Risk aversion and risk attraction
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