Axioms for preferences revealing subjective uncertainty and uncertainty aversion

DOI10.1016/J.JMATECO.2003.07.004MaRDI QIDQ1886754zbMATH OpenOpenAlexFDO

Authors Jens Tapking

Publication date 19 November 2004

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jmateco.2003.07.004

zbMATH Keywords

Choquet expected utility theory

Mathematics Subject Classification ID

Individual preferences (91B08) Utility theory (91B16)

Recommendations

• Subjective probability and stochastic independence
• Uncertainty Aversion and Dynamic Consistency
• Conditional preferences and updating.
• Subjective expected utility with incomplete preferences
• Uncertainty aversion with second-order utilities and probabilities

Cites work

• scientific article; zbMATH DE number 3339023 (Why is no real title available?)
• scientific article; zbMATH DE number 3087284 (Why is no real title available?)
• A Definition of Subjective Probability
• A Definition of Uncertainty Aversion
• A More Robust Definition of Subjective Probability
• Ambiguity made precise: A comparative foundation
• Bayesian updating and belief functions
• Decision making with imprecise probabilistic information
• Expected utility with purely subjective non-additive probabilities
• Maxmin expected utility with non-unique prior
• Risk, ambiguity and the Savage axioms
• Some characterizations of lower probabilities and other monotone capacities through the use of Möbius inversion
• Subjective Probabilities on Subjectively Unambiguous Events
• Subjective Probability and Expected Utility without Additivity
• Theory of capacities
• Updating ambiguous beliefs

Cited in

(9)

• On the uses of the monotonicity and independence axioms in models of ambiguity aversion
• Uncertainty in beliefs and preferences: Conditions for optimal alternatives
• Controlling the degree of caution in statistical inference with the Bayesian and frequentist approaches as opposite extremes
• Decision making with imprecise probabilistic information
• Scale-invariant uncertainty-averse preferences and source-dependent constant relative risk aversion
• Are beliefs a matter of taste? A case for objective imprecise information
• Attitude toward imprecise information
• Characterizing uncertainty aversion through preference for mixtures
• Uncertainty aversion in nonprobabilistic decision models

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