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http://hdl.handle.net/10419/58380
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| Title: | | Revealed unawareness  |
| Authors: | | Schipper, Burkhard C. |
| Issue Date: | | 2010 |
| Series/Report no.: | | Working Papers, University of California, Department of Economics 10,5 |
| Abstract: | | I develop awareness-dependent subjective expected utility by taking unawareness structures introduced in Heifetz, Meier, and Schipper (2006, 2008, 2009) as primitives in the Anscombe-Aumann approach to subjective expected utility. I observe that a decision maker is unaware of an event if and only if her choices reveal that the event is null and the negation of the event is null. Moreover, I characterize impersonal expected utility that is behaviorally indistinguishable from awareness-dependent subject expected utility and assigns probability zero to some subsets of states that are not necessarily events. I discuss in what sense impersonal expected utility can not represent unawareness. |
| Subjects: | | unawareness awareness unforeseen contingencies null zero probability subjective expected utility Anscombe-Aumann small worlds extensionality of acts event exchangeability |
| JEL: | | C70 C72 D80 D82 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Papers, Department of Economics, UC Davis
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