1.

Record Nr.

UNINA9910784688003321

Titolo

Uncertainty in economic theory : essays in honor of David Schmeidler's 65th birthday / / edited by Itzhak Gilboa

Pubbl/distr/stampa

London ; ; New York : , : Routledge, , 2004

ISBN

1-134-34415-5

0-203-68357-9

1-134-34416-3

1-280-37733-X

9786610377336

0-203-35806-6

Descrizione fisica

1 online resource (577 p.)

Collana

Routledge frontiers of political economy ; ; 63

Classificazione

83.19

Altri autori (Persone)

SchmeidlerDavid <1939-2022.>

GilboaItzhak

Disciplina

330/.01/519

Soggetti

Uncertainty - Mathematical models

Decision making - Mathematical models

Risk management - Mathematical models

Choice (Psychology) - Mathematical models

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

Uncertainty in Economic Theory; Copyright; Contents; List of Contributors; Preface; Part I Theory; 1 Introduction; 2 Preference axiomatizations for decision under uncertainty; 3 Defining ambiguity and ambiguity attitude; 4 Introduction to the mathematics of ambiguity; 5 Subjective probability and expected utility without additivity; 6 MAxmin expected utility with non-unique prior; 7 A simple axiomatization of nonadditive expected utility; 8 Updating ambigous beliefs; 9 A definition of uncertainty aversion; 10 Ambiguity made precise: A comparative made precise

11 Stochastically independent randomization and uncertainty aversion12 Decomposition and representation of coalitional games; Part II Applications; 13 An overview of economic applications of David Schmeidler's models of decision making under uncertainty; 14 Ambiguity aversion and incompleteness of contractual form; 15



Ambiguity aversion and incompleteness of financial markets; 16 A quartet of semigroups for model specification, robustness, prices of risk, and model detection; 17 Uncertainty aversion, risk aversion, and the optimal choice of portfolio

18 Intertemporal asset pricing under knightian uncertainty19 Sharing beliefs; 20 Equilibrium in beliefs under uncertainity; 21 The right to remain silent; 22 On the measurement of inequality under uncertainty; Index

Sommario/riassunto

This volume brings together important papers, coupled with new introductions, in the massively influential area of uncertainty in economic theory. Seminal papers are available together for the first time in book format, with new introductions and under the steely editorship of Itzhak Gilboa - this book is a useful reference tool for economists all over the globe.