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Second-order ambiguous beliefs/ created by Leandro Nascimento and Gil Riella

By: Contributor(s): Material type: TextTextSeries: Economic theory ; Volume 52, number 3Berlin: Springer, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 09382259
Subject(s): LOC classification:
  • HB119 ECO
Online resources: 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
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HB119 ECO (Browse shelf(Opens below)) vol. 52, no. 3 (pages 1005-1038) SP21293 Not for loan For In house Use
Journal Article Journal Article Main Library - Special Collections HB119 ECO (Browse shelf(Opens below)) Vol. 52, no.3 (pages 1005-1038) SP21041 Not for loan For In house Use

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

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