Second-order ambiguous beliefs/
Nascimento, Leandro
Second-order ambiguous beliefs/ created by Leandro Nascimento and Gil Riella - Economic theory Volume 52, number 3 .
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
09382259
Ambiguity--Incomplete preferences--Second-order beliefs
HB119 ECO
Second-order ambiguous beliefs/ created by Leandro Nascimento and Gil Riella - Economic theory Volume 52, number 3 .
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
09382259
Ambiguity--Incomplete preferences--Second-order beliefs
HB119 ECO