Range convexity and ambiguity averse preferences (Q5940602)
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scientific article; zbMATH DE number 1632037
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| English | Range convexity and ambiguity averse preferences |
scientific article; zbMATH DE number 1632037 |
Statements
Range convexity and ambiguity averse preferences (English)
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9 August 2001
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It is shown that range convexity of beliefs when combined either with the Choquet expected utility model or with the maximum expected utility model makes the preferences collapse to the subjective utility. In the case of ambiguity averse preferences in the setting of Anscombe and Auman a similar result is also valid, but only assuming less plausible conditions.
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preferences
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ambiguity aversion
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expected utility
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0.7897889614105225
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0.7861295938491821
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0.7857757210731506
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0.7821798324584961
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0.7808061242103577
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