Maxmin expected utility through statewise combinations

Authors
Casadesus-Masanell, R Klibanoff, P Ozdenoren, E
Citation
R. Casadesus-masanell et al., Maxmin expected utility through statewise combinations, ECON LETT, 66(1), 2000, pp. 49-54
Citations number
14
Categorie Soggetti
Economics
Journal title
ECONOMICS LETTERS
ISSN journal
01651765 → ACNP
Volume
66
Issue
1
Year of publication
2000
Pages
49 - 54
Database
ISI
SICI code
0165-1765(200001)66:1<49:MEUTSC>2.0.ZU;2-T
Abstract
We provide an axiomatic foundation for a maxmin expected utility over a set of priors (MMEU) decision rule in an environment where the elements of cho ice are Savage acts. The key axioms are stated using statewise combinations as in Gul [Gul, F., 1992. Savage's theorem with a finite number of states. Journal of Economic Theory 57, 99-100]. (C) 2000 Elsevier Science S.A. All rights reserved.