| |
| Dublin Core |
PKP Metadata Items |
Metadata for this document |
| |
| 1. |
Title |
Title of document |
Expected balanced uncertain utility |
| |
| 2. |
Creator |
Author's name, affiliation |
Simon Grant; Research School of Economics, Australian National University |
| |
| 2. |
Creator |
Author's name, affiliation |
Berend Roorda; Department of Economics, University Twente |
| |
| 2. |
Creator |
Author's name, affiliation |
Jingni Yang; School of Economics, University of Sydney |
| |
| |
| 3. |
Subject |
Subject(s) |
Uncertainty, ambiguity, betweenness |
| |
| 3. |
Subject |
Subject classification |
D80, D81 |
| |
| 4. |
Description |
Abstract |
We introduce and analyze expected balanced uncertain utility (EBUU) theory. A prior and a balanced outcome-set utility characterize an EBUU decision maker. Conditional on a reference or ``balancing value'', the latter assigns a utility to each outcome-set. The decision maker associates with each act, its envelope, the minimal measurable mapping from states to outcome-sets that contains the act. She then (implicitly) ranks an act according to the balancing value at which the expected balanced utility of its associated envelope is zero. As a consequence her risk preferences need only exhibit betweenness allowing or behavior that can accommodate Allais-type paradoxes. |
| |
| 5. |
Publisher |
Organizing agency, location |
Econometric Society |
| |
| 6. |
Contributor |
Sponsor(s) |
|
| |
| 7. |
Date |
(YYYY-MM-DD) |
2025-01-28 |
| |
| 8. |
Type |
Status & genre |
Peer-reviewed Article |
| |
| 8. |
Type |
Type |
|
| |
| 9. |
Format |
File format |
pdf
|
| |
| 10. |
Identifier |
Universal Resource Indicator |
https://econtheory.org/ojs/index.php/te/article/view/20250001 |
| |
| 11. |
Source |
Journal/conference title; vol., no. (year) |
Theoretical Economics; Volume 20, Number 1 (January 2025) |
| |
| 12. |
Language |
English=en |
en |
| |
| 15. |
Rights |
Copyright and permissions |
Authors who publish in Theoretical Economics will release their articles under the Creative Commons Attribution-NonCommercial license. This license allows anyone to copy and distribute the article for non-commercial purposes provided that appropriate attribution is given. |