Essays on Uncertainty with Applications to Economics

Essays on Uncertainty with Applications to Economics

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In the first essay, which is coauthored with Ramon Casadesus-Masanell and Peter Klibanoff, we provide an axiomatic foundation for a maxmin expected utility over a set of priors (MMEU) decision rule in an environment where the elements of choice are Savage acts. This characterization complements the original axiomiatization of MMEU developed in a lottery-acts framework by Gilboa and Schmeidler (1989). The novel axioms are formulated using standard sequence techniques, which allow cardinal properties of utility to be expressed directly through preferences.In the first essay, which is coauthored with Ramon Casadesus-Masanell and Peter Klibanoff, we provide an axiomatic foundation for a maxmin expected utility over a set of priors (MMEU) decision rule in an environment where the elements of ...


Title:Essays on Uncertainty with Applications to Economics
Author: Emre Ozdenoren
Publisher: - 2000
ISBN-13:

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