Maxmin expected utility over Savage acts with a set of priors
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The authors provide an axiomatic foundation for maximin expected utility over a set of prior decision rules defined on a set of Savage acts. All introduced axioms are discussed. The results are an original extension of the well-known theory.
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Cites work
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- A Definition of Uncertainty Aversion
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- scientific article; zbMATH DE number 3366923 (Why is no real title available?)
- scientific article; zbMATH DE number 3195782 (Why is no real title available?)
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Cited in
(49)- Imprecise probabilistic beliefs as a context for decision-making under ambiguity
- A combination of expected utility and maxmin decision criteria
- Maxmin expected utility with non-unique prior
- Recursive multiple-priors.
- Maxmin expected utility through statewise combinations
- Probabilism, representation theorems, and whether deliberation crowds out prediction
- An infinite dimensional purification principle without saturation
- Direct data-based decision making under uncertainty
- Ranked additive utility representations of gambles: Old and new axiomatizations
- Conditional preferences and updating.
- Auctions with uncertain numbers of bidders
- Robust bidding and revenue in descending price auctions
- Uncertainty and compound lotteries: calibration
- A comment on the axiomatics of the maxmin expected utility model
- Decision making in phantom spaces
- Portfolio inertia and epsilon-contaminations
- Savage for dummies and experts
- Monetary equilibria and Knightian uncertainty
- Purely subjective variational preferences
- A powerful tool for analyzing concave/convex utility and weighting functions
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- On the axiomatic definition of generalized maximin principle
- Optimal Portfolio Choice Based on α-MEU Under Ambiguity
- Context-Dependent Utilities
- Cobb-Douglas preferences under uncertainty
- Maxmin expected utility with additivity on unambiguous events
- Reexamination on updating Choquet beliefs
- Purely subjective maxmin expected utility
- Fuzzy logic-based generalized decision theory with imperfect information
- Modeling nonmonotone preferences: the case of utility smoothing
- COHERENT ACCEPTABILITY MEASURES IN MULTIPERIOD MODELS
- Optimality in an OLG model with nonsmooth preferences
- Ellsberg meets Keynes at an urn
- Maxmin expected utility in Savage's framework
- Ambiguity aversion and trade
- Utility independence of multiattribute utility theory is equivalent to standard sequence invariance of conjoint measurement
- Alpha-maxmin as an aggregation of two selves
- Ambiguity and informativeness of (non-)trading
- Making decisions under model misspecification
- A new approach for imprecise probabilities
- Completing the state space with subjective states
- Ambiguity made precise: A comparative foundation
- Smoothing preference kinks with information
- On regularities of mass phenomena
- Calibrated uncertainty
- A general theory of subjective mixtures
- The likelihood method for decision under uncertainty
- Purely subjective extended Bayesian models with Knightian unambiguity
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