Second-order ambiguous beliefs

B-Tier
Journal: Economic Theory
Year: 2013
Volume: 52
Issue: 3
Pages: 1005-1037

Authors (2)

Leandro Nascimento (not in RePEc) Gil Riella (Fundação Getúlio Vargas (FGV))

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper axiomatizes models of second-order ambiguous beliefs in the original domain of preferences of Anscombe and Aumann (Ann Math Stat 34:199–205, 1963 ) by weakening the first-stage independence postulate. The models we propose include the second-order subjective expected utility (SOSEU) of Seo (Econometrica 77:1575–1605, 2009 ) as a particular case. We characterize the intersection of our models of second-order ambiguity with the canonical models of (first-order) ambiguity aversion and provide a further generalization of SOSEU by relaxing the completeness axiom. Copyright Springer-Verlag 2013

Technical Details

RePEc Handle
repec:spr:joecth:v:52:y:2013:i:3:p:1005-1037
Journal Field
Theory
Author Count
2
Added to Database
2026-01-29