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On the confidence preferences model

Authors :
Alain Chateauneuf
José Heleno Faro
Centre d'économie de la Sorbonne (CES)
Université Paris 1 Panthéon-Sorbonne (UP1)-Centre National de la Recherche Scientifique (CNRS)
Paris School of Economics (PSE)
École des Ponts ParisTech (ENPC)-École normale supérieure - Paris (ENS Paris)
Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-Université Paris 1 Panthéon-Sorbonne (UP1)-Centre National de la Recherche Scientifique (CNRS)-École des hautes études en sciences sociales (EHESS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE)
Centro de Desenvolvimento e Planejamento Regional (CEDEPLAR)
Universidade Federal de Minas Gerais
Ce travail a bénéficié d'une aide de l'Etat gérée par l'Agence Nationale de la Recherche au titre du programme ' Investissements d'avenir ' portant la référence ANR-10-LABX-93-01. This work was supported by the French National Research Agency, through the program Investissements d'Avenir, ANR-10--LABX-93-01.
Source :
Fuzzy Sets and Systems, Fuzzy Sets and Systems, Elsevier, 2012, 188 (1), pp.1-15. ⟨10.1016/j.fss.2011.08.002⟩
Publication Year :
2012
Publisher :
Elsevier BV, 2012.

Abstract

International audience; In this paper we study the model of decision under uncertainty consistent with confidence preferences. In that model, a decision maker held beliefs represented by a fuzzy set of priors and tastes captured by a standard affine utility index on consequences. First, we find some interesting properties concerning the well-known maxmin expected utility model, taking into account the point of view of the confidence preferences model. Further, we provide new examples of preferences that capture ambiguity-averse attitudes weaker than ambiguity attitudes featured by maxmin expected utility theory. Finally, we discuss the axiomatic foundations for the confidence preferences model with optimistic behavior.

Details

ISSN :
01650114
Volume :
188
Database :
OpenAIRE
Journal :
Fuzzy Sets and Systems
Accession number :
edsair.doi.dedup.....912e2f44db1482c65b8c22e8b1a811b1