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dc.contributor.authorGalaabaatar, Tsogbadralen
dc.contributor.authorKarni, Edien
dc.date.accessioned2010-11-04-
dc.date.accessioned2011-09-27T15:21:10Z-
dc.date.available2011-09-27T15:21:10Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/49875-
dc.description.abstractThis 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.en
dc.language.isoengen
dc.publisher|aThe Johns Hopkins University, Department of Economics |cBaltimore, MDen
dc.relation.ispartofseries|aWorking Paper |x572en
dc.subject.ddc330en
dc.subject.keywordIncomplete preferencesen
dc.subject.keywordKnightian uncertaintyen
dc.subject.keywordMultiprior expected multi-utility representationsen
dc.subject.keywordIncomplete beliefsen
dc.subject.keywordIncomplete tastesen
dc.titleObjective and subjective expected utility with incomplete preferences-
dc.typeWorking Paperen
dc.identifier.ppn638477700en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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