Probabilistic sophistication, second order stochastic dominance and uncertainty aversion
نویسندگان
چکیده
منابع مشابه
Cumulative dominance and probabilistic sophistication
Machina and Schmeidler [Econometrica, 60 (1992) 745–780] gave preference conditions for probabilistic sophistication, i.e. decision making where uncertainty can be expressed in terms of (subjective) probabilities without commitment to expected utility maximization. This note shows that simpler and more general results can be obtained by combining results from qualitative probability theory with...
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ژورنال
عنوان ژورنال: Journal of Mathematical Economics
سال: 2012
ISSN: 0304-4068
DOI: 10.1016/j.jmateco.2012.05.005