Ambiguity and Second-Order Belief

Anscombe and Aumann (1963) wrote a classic characterization of subjective expected utility theory. This paper employs the same domain for preference and a closely related (but weaker) set of axioms to characterize preferences that use second-order beliefs (beliefs over probability measures). Such pr...

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Veröffentlicht in:	Econometrica 2009-09, Vol.77 (5), p.1575-1605
1. Verfasser:	Seo, Kyoungwon
Format:	Artikel
Sprache:	eng
Schlagworte:	Ambiguity Applications Belief & doubt Beliefs Betting Decision theory Econometric models Economic theory Economic utility Ellsberg paradox Exact sciences and technology Expected utility Insurance, economics, finance Linear transformations Lotteries Mathematics Paradoxes Preferences Probability and statistics Probability theory and stochastic processes Probability theory on algebraic and topological structures Sciences and techniques of general use second-order belief Statistics Studies Topological spaces Utility functions Utility theory
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