Mean-Dispersion Preferences and Constant Absolute Uncertainty Aversion
نویسندگان
چکیده
منابع مشابه
Mean-dispersion preferences and constant absolute uncertainty aversion
We axiomatize, in an Anscombe-Aumann framework, the class of preferences that admit a representation of the form V (f) = (d), where is the mean utility of the act f with respect to a given probability, d is the vector of state-by-state utility deviations from the mean, and (d) is a measure of (aversion to) dispersion that corresponds to an uncertainty premium. The key feature of these mean-disp...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1861353