@techreport{Galaabaatar2010Objective,
abstract = {This paper extends the expected utility models of decision making under risk and under uncertainty to include incomplete beliefs and tastes. The main results are two axiomatizations of the multi-prior expected multi-utility representations of preference relation under uncertainty, thereby resolving long standing open questions. The Knightian uncertainty model and expected multi-utility model with complete beliefs are obtained as special cases. In addition, the von Neumann-Morgenstern expected utility model with incomplete preferences is revisited using a 'constructive' approach, as opposed to earlier treatments that use convex analysis.},
address = {Baltimore, Md.},
author = {Tsogbadral Galaabaatar and Edi Karni},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {330; Incomplete preferences; Knightian uncertainty; Multiprior expected multi-utility representations; Incomplete beliefs; Incomplete tastes},
language = {eng},
number = {572},
publisher = {Johns Hopkins Univ., Dep. of Economics},
title = {Objective and subjective expected utility with incomplete preferences},
type = {Working papers // the Johns Hopkins University, Department of Economics},
url = {http://hdl.handle.net/10419/49875},
year = {2010}
}
