Subjective ambiguity, expected utility and Choquet expected utility

B-Tier
Journal: Economic Theory
Year: 2002
Volume: 20
Issue: 1
Pages: 159-181

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

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

Abstract

Using the Savage set up, this paper provides a simple axiomatization of the Choquet Expected Utility model where the capacity is an inner measure. Two attractive features of the model are its specificity and the transparency of its axioms. The key axiom states that the decision-maker uses unambiguous acts to approximate ambiguous ones. In addition, the notion of `ambiguity' is subjective and derived from preferences.

Technical Details

RePEc Handle
repec:spr:joecth:v:20:y:2002:i:1:p:159-181
Journal Field
Theory
Author Count
1
Added to Database
2026-01-29