Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/91537
Authors: 
Bayer, Ralph-C.
Bose, Subir
Polisson, Matthew
Renou, Ludovic
Year of Publication: 
2013
Series/Report no.: 
IFS Working Papers W13/05
Abstract: 
We derive necessary and sufficient conditions for data sets composed of state-contingent prices and consumption to be consistent with two prominent models of decision making under uncertainty: variational preferences and smooth ambiguity. The revealed preference conditions for subjective expected utility, maxmin expected utility, and multiplier preferences are characterised as special cases. We implement our tests on data from a portfolio choice experiment.
Subjects: 
ambiguity
expected utility
maxmin
revealed preference
smooth
uncertainty
variational
JEL: 
D1
D8
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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