Ambiguity Aversion, Robustness, and the Variational Representation of Preferences

Authors:
  • FMFabio Maccheroni
    Fabio Maccheroni
  • MMMassimo Marinacci
    Massimo Marinacci
  • ARAldo Rustichini
    Aldo Rustichini
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  • 1 January 2004
Abstract
We characterize, in the Anscombe-Aumann framework, the preferences for which there are a utility functionu on outcomes and an ambiguity indexc on the set of probabilities on the states of the world such that, for all acts f and g, Copyright The Econometric Society 2006. (This abstract was borrowed from another version of this item.)
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