On the confidence preferences model

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Autores

Chateauneuf, Alain

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Tipo de documento

Artigo Científico

Data

2012

Unidades Organizacionais

Resumo

In this paper we study the model of decision under uncertainty consistent with confidence preferences. In that model, a decision maker held beliefs represented by a fuzzy set of priors and tastes captured by a standard affine utility index on consequences. First, we find some interesting properties concerning the well-known maxmin expected utility model, taking into account the point of view of the confidence preferences model. Further, we provide new examples of preferences that capture ambiguity-averse attitudes weaker than ambiguity attitudes featured by maxmin expected utility theory. Finally, we discuss the axiomatic foundations for the confidence preferences model with optimistic behavior.

Palavras-chave

Confidence functions; Decision analysis; Economics; Fuzzy priors; Multiple priors model; Multiple priors model

Titulo de periódico

Fuzzy Sets and Systems
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Inglês

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Membros da banca

Área do Conhecimento CNPQ

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