Arbeitspapier
Ambiguity revealed
We derive necessary and sufficient conditions for data sets composed of state-contingent prices and consumption to be consistent with two prominent models of decision making under uncertainty: variational preferences and smooth ambiguity. The revealed preference conditions for subjective expected utility, maxmin expected utility, and multiplier preferences are characterised as special cases. We implement our tests on data from a portfolio choice experiment.
- Language
-
Englisch
- Bibliographic citation
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Series: IFS Working Papers ; No. W13/05
- Classification
-
Wirtschaft
- Subject
-
ambiguity
expected utility
maxmin
revealed preference
smooth
uncertainty
variational
- Event
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Geistige Schöpfung
- (who)
-
Bayer, Ralph-C.
Bose, Subir
Polisson, Matthew
Renou, Ludovic
- Event
-
Veröffentlichung
- (who)
-
Institute for Fiscal Studies (IFS)
- (where)
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London
- (when)
-
2013
- DOI
-
doi:10.1920/wp.ifs.2013.1305
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Bayer, Ralph-C.
- Bose, Subir
- Polisson, Matthew
- Renou, Ludovic
- Institute for Fiscal Studies (IFS)
Time of origin
- 2013
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