Variational Bewley Preferences
| dc.contributor.author | JOSÉ HELENO FARO | |
| dc.coverage.cidade | São Paulo | pt_BR |
| dc.coverage.pais | Brasil | pt_BR |
| dc.date.accessioned | 2023-07-17T19:14:52Z | |
| dc.date.available | 2023-07-17T19:14:52Z | |
| dc.date.issued | 2014 | |
| dc.description.notes | a numeração da série traz o ano de 2011 | pt_BR |
| dc.description.other | This paper characterizes variational Bewley preferences over Anscombe and Aumann acts, a class of binary relations that may fail completeness or transitivity vis a vis independence. The main result gives an axiomatization of preference relations % represented as follows: f % g , Z u (f) dp + (p) Z u (g) dp for all p 2 , where u is an a¢ ne utility index over a convex set X of consequences, : ! [0;1] is an ambiguity index, and is the set of priors over the state space S. This representation has a natural interpretation as a weighted unanimity rule, with the function reáecting the weight given to a prior and higher values of corresponding to priors given less weight. Bewleyís incomplete preferences can be identiÖed precisely with the addition of transitivity or independence, and a prior receives weight either 0 if plausible or 1 when discarded. Also, by adding only completeness, we recover subjective expected utility, i.e., the lack of transitivity implies incompleteness. Finally, we Önd a strong connection of our model with the class of variational preferences. | pt_BR |
| dc.format.extent | 36 p. | pt_BR |
| dc.format.medium | Digital | pt_BR |
| dc.identifier.issue | BEWP 199/2014 | |
| dc.identifier.uri | https://repositorio.insper.edu.br/handle/11224/5836 | |
| dc.language.iso | Inglês | pt_BR |
| dc.publisher | Insper | pt_BR |
| dc.publisher | IBMEC São Paulo | pt_BR |
| dc.relation.ispartofseries | Insper Working Paper | pt_BR |
| dc.rights.license | O INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DO USUÁRIO VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITOR | pt_BR |
| dc.subject.keywords | Ambiguity | pt_BR |
| dc.subject.keywords | Knightian uncertainty | pt_BR |
| dc.subject.keywords | incomplete preferences | pt_BR |
| dc.subject.keywords | intransitivity | pt_BR |
| dc.subject.keywords | variational preferences | pt_BR |
| dc.title | Variational Bewley Preferences | pt_BR |
| dc.type | working paper | |
| dspace.entity.type | Publication | |
| local.subject.cnpq | Ciências Sociais Aplicadas | pt_BR |
| local.type | Working Paper | pt_BR |
| relation.isAuthorOfPublication | 6f68f2a4-9e10-4c94-a5e8-62ba771c81d7 | |
| relation.isAuthorOfPublication.latestForDiscovery | 6f68f2a4-9e10-4c94-a5e8-62ba771c81d7 |
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