Second-order uncertainty and naive diversification
نویسندگان
چکیده
This paper introduces a new model for decision making under ambiguity called second-order uncertainty. The maker considers all probability distributions associated with the given options, and chooses allocation that minimizes variability of outcome across probabilities. Optimal uncertainty is equal weighted allocation, also naive diversification. • A developed. Second-order outcomes
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2022
ISSN: ['1873-7374', '0165-1765']
DOI: https://doi.org/10.1016/j.econlet.2022.110554