EPSTEIN, L. and J. ZHANG (2001) "Subjective Probabilities on Subjectively Unambiguous Events." Econometrica 69, 265---306. Home/Search Document Details and Download
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Ambiguity From The Differential Viewpoint - Ghirardato (Correct)
....the conclusion that f is unambiguously preferred to g, but the event based papers do not. That is, there are aspects of ambiguity that a relation based theory can describe, but the event based theories cannot. We are not aware of any instance in which the converse is true. Epstein and Zhang [9] propose a behavioral notion of unambiguous event, and characterize a family of preferences whose behavior is probabilistically sophisticated on the acts measurable with respect to the set of unambiguous events. Their notion of unambiguous event is di#erent to the one we present. For instance, ....
....finding the events over which # is complement additive provides a convenient way of identifying the set #. 5. 2 Unambiguous Acts In view of the fact that # is a # system, it is natural to call unambiguous the acts whose upper level sets are unambiguous events (cf. e.g. Epstein and Zhang [9]) Definition 23 Act f F is unambiguous if its upper sets x belong to # for all x X. The set of all the unambiguous acts is denoted U. Some simple properties of unambiguous acts follow. Proposition 24 For any f (i) f is unambiguous. a R. S : u(f(s) a ....
Larry G. Epstein and Jiankang Zhang. Subjective probabilities on subjectively unambiguous events. Econometrica, 69:265--306, March 2001.
A Generalization of Pratt-Arrow Measure to Non-Expected-Utility.. - Nau (2002) (Correct)
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EPSTEIN, L. and J. ZHANG (2001) "Subjective Probabilities on Subjectively Unambiguous Events." Econometrica 69, 265---306.
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