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dc.contributor.authorBier, Monikaen_US
dc.contributor.authorEngelage, Danielen_US
dc.date.accessioned2010-05-28en_US
dc.date.accessioned2010-08-17T12:28:08Z-
dc.date.available2010-08-17T12:28:08Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/38797-
dc.description.abstractWe consider long-run behavior of agents assessing risk in terms of dynamic convex risk measures or, equivalently, utility in terms of dynamic variational preferences in an uncertain setting. By virtue of a robust representation, we show that all uncertainty is revealed in the limit and agents behave as expected utility maximizer under the true underlying distribution regardless of their initial risk anticipation. In particular, risk assessments of distinct agents converge. This result is a generalization of the fundamental Blackwell-Dubins Theorem, cp. [Blackwell & Dubins, 62], to convex risk. We furthermore show the result to hold in a non-time-consistent environment.en_US
dc.language.isoengen_US
dc.publisherGraduate School of Economics Bonnen_US
dc.relation.ispartofseriesBonn econ discussion papers 2010,11en_US
dc.subject.jelC61en_US
dc.subject.jelC65en_US
dc.subject.jelD81en_US
dc.subject.ddc330en_US
dc.subject.keywordDynamic Convex Risk Measuresen_US
dc.subject.keywordMultiple Priorsen_US
dc.subject.keywordUncertaintyen_US
dc.subject.keywordRobust Representationen_US
dc.subject.keywordTime-Consistencyen_US
dc.subject.keywordBlackwell-Dubinsen_US
dc.subject.stwRisikopräferenzen_US
dc.subject.stwErwartungstheorieen_US
dc.subject.stwEntscheidung bei Unsicherheiten_US
dc.subject.stwZeitkonsistenzen_US
dc.subject.stwErwartungsnutzenen_US
dc.subject.stwTheorieen_US
dc.titleMerging of opinions under uncertaintyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn626942055en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn

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