Risk, Ambiguity, and the Separation of Utility and Beliefs

References

• Allais M. Le comportement de l'homme rationnel devant le risque: Critique des postulats et axiomes de l'école américaine. Econometrica (1953) 21:503–546Crossref, Google Scholar
• Anscombe F. J., Aumann R. J. A definition of subjective probability. Ann. Math. Statist. (1963) 34:199–205Crossref, Google Scholar
• Arrow K. J. The theory of risk aversion. Essays in the Theory of Risk-Bearing (1974) (North-Holland, Amsterdam, The Netherlands) . (part of the Yriö Jahnssonin Säätio lectures in Helsinki, 1965)Google Scholar
• Casadesus-Masanell R., Klibanoff P., Ozdenoren E. Maxmin expected utility over savage acts with a set of priors. J. Econom. Theory (2000) 92:33–65Crossref, Google Scholar
• Chateauneuf A., Tallon J. Diversification, convex preferences and non-empty core. (1998) . Mimeo, Université Paris I, Paris, FranceGoogle Scholar
• Chew S. H., Karni E. Choquet expected utility with a finite state space: Commutativity and act-independence. J. Econom. Theory (1994) 62:469–479Crossref, Google Scholar
• Choquet G. Theory of capacities. Ann. Inst. Fourier (Grenoble) (1953) 5:131–295Crossref, Google Scholar
• Debreu G., Koopmans T. Additively decomposed quasi-convex functions. Math. Programming (1982) 24:1–38Crossref, Google Scholar
• Dekel E. Asset demands without the independence axiom. J. Econom. Theory (1989) 57:163–169Google Scholar
• Ellsberg D. Risk, ambiguity, and the savage axioms. Quart. J. Econom. (1961) 75:643–669Crossref, Google Scholar
• de Finetti B. Sulla preferibilità. Giorn. Econ. (1952) 6:3–27Google Scholar
• Ghirardato P., Marinacci M. Range convexity and ambiguity averse preferences. J. Econom. Theory (2001) 17:599–617Crossref, Google Scholar
• Ghirardato P., Marinacci M. Ambiguity made precise: A comparative foundation. J. Econom. TheoryforthcomingGoogle Scholar
• Gilboa I. Expected utility with purely subjective non-additive probabilities. J. Math. Econom. (1987) 16:65–88Crossref, Google Scholar
• Gilboa I., Schmeidler D. Maxmin expected utility with a non-unique prior. J. Math. Econom. (1989) 18:141–153Crossref, Google Scholar
• Gul F. A theory of disappointment aversion. Econometrica (1991) 59:667–686Crossref, Google Scholar
• Gul F. Savage's theorem with a finite number of states. J. Econom. Theory (1992) 57:99–110Crossref, Google Scholar
• Luce R. D.Utility of Gains and Losses: Measurement-Theoretical and Experimental Approaches (2000) (Lawrence Erlbaum, London, U.K.) Google Scholar
• Machina M. J., Schmeidler D. A more robust definition of subjective probability. Econometrica (1992) 60:745–780Crossref, Google Scholar
• Miyamoto J. M. Generic utility theory: Measurement foundations and applications in multiattribute utility theory. J. Math. Psych. (1988) 32:357–404Crossref, Google Scholar
• Nakamura Y. Subjective expected utility with non-additive probabilities on finite state spaces. J. Econom. Theory (1990) 51:346–366Crossref, Google Scholar
• Ozdenoren E. Auctions and bargaining with a set of priors. (2000) . Mimeo, Northwestern University, Evanston, ILGoogle Scholar
• Pratt J. W. Risk aversion in the small and in the large. Econometrica (1964) 32:122–136Crossref, Google Scholar
• Quiggin J. A theory of anticipated utility. J. Econom. Behavior Organ. (1982) 3:94–101Crossref, Google Scholar
• Rothschild M., Stiglitz J. E. Increasing risk I: A definition. J. Econom. Theory (1970) 2:225–243Crossref, Google Scholar
• Royden H. L.Real Analysis (1988) 3rd Ed.(Macmillan, New York) Google Scholar
• Savage L. J.The Foundations of Statistics (1954) (Wiley, New York) Google Scholar
• Schmeidler D. Subjective probability and expected utility without additivity. Econometrica (1989) 57:571–587Crossref, Google Scholar
• Tversky A., Kahneman D. Advances in prospect theory: Cumulative representation of uncertainty. J. Risk Uncertainty (1992) 5:297–323Crossref, Google Scholar
• Wakker P. P.Additive Representations of Preferences (1989) (Kluwer, Dordrecht, The Netherlands) Crossref, Google Scholar
• Yaari M. E. Some remarks on measures of risk aversion and on their uses. J. Econom. Theory (1969) 1:315–329Crossref, Google Scholar
• Yaari M. E. The dual theory of choice under risk. Econometrica (1987) 55:95–116Crossref, Google Scholar