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Characterizations of Smooth Ambiguity Based on Continuous and Discrete Data.
- Source :
- Mathematics of Operations Research; Feb2017, Vol. 42 Issue 1, p167-178, 12p
- Publication Year :
- 2017
-
Abstract
- In the Anscombe-Aumann setup, we provide conditions for a collection of observations to be consistent with a well-known class of smooth ambiguity preferences (Klibanoff P, Marinacci M, Mukerji S (2005) A smooth model of decision making under ambiguity. Econometrica 73(6):1849-1892.). Each observation is assumed to take the form of an equivalence between an uncertain act and a certain outcome. We provide three results that describe these conditions for data sets of different cardinality. Our findings uncover surprising links between the smooth ambiguity model and classic mathematical results in complex and functional analysis. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 0364765X
- Volume :
- 42
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Mathematics of Operations Research
- Publication Type :
- Academic Journal
- Accession number :
- 121330601
- Full Text :
- https://doi.org/10.1287/moor.2016.0799