Ignorance and Competence in Choices Under Uncertainty

dc.contributor.authorCasaca, Paulo
dc.contributor.authorChateauneuf, Alain
dc.contributor.authorJOSÉ HELENO FARO
dc.coverage.cidadeSão Paulopt_BR
dc.coverage.paisBrasilpt_BR
dc.creatorCasaca, Paulo
dc.creatorChateauneuf, Alain
dc.date.accessioned2023-07-25T19:25:27Z
dc.date.available2023-07-25T19:25:27Z
dc.date.issued2013
dc.description.otherWe propose a model of decision making that captures reluctance to bet when the decision maker (DM) perceives that she lacks adequate information or expertise about the underlying contingencies. On the other hand, the same DM can prefer to bet in situations where she feel specially knowledgeable or competent even the underlying contingencies have vague likelihood. This separation is motivated by the Heath and Tverskyís competence hypothesis as well as by the Fox and Tverskyís comparative ignorance e§ect. Formally, we characterize preference relations % over Anscombe-Aumann acts represented by J (f) = minp2CZAu(f)dp + maxp2CZAcu(f)dp, where u is an a¢ ne utility index on consequences, C is a nonempty, convex and (weak) compact subset of probabilities measures, and A is a referential chance event. In this model there is a clear separation of ambiguity attitudes. The case E A captures possible familiar target events while the case E Ac might refers to the case of relative ignorance concerning related contingencies. This model captures a special case of event dependence of ambiguity attitudes in which the well known maxmin model isa special case. We also characterizes the case where we have a Choquet Expected Utility representation.pt_BR
dc.format.extent23 p.pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.issueWPE 323/2013
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/5963
dc.language.isoInglêspt_BR
dc.publisherInsperpt_BR
dc.relation.ispartofseriesInsper Working Paperpt_BR
dc.rights.licenseO 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 EDITORpt_BR
dc.subject.keywordsAmbiguitypt_BR
dc.subject.keywordsCompetence hypothesispt_BR
dc.subject.keywordsComparative ignorance effectpt_BR
dc.subject.keywordsMaxmin preferencespt_BR
dc.subject.keywordsChoquet expected utility.pt_BR
dc.titleIgnorance and Competence in Choices Under Uncertaintypt_BR
dc.typeworking paper
dspace.entity.typePublication
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeWorking Paperpt_BR
relation.isAuthorOfPublication6f68f2a4-9e10-4c94-a5e8-62ba771c81d7
relation.isAuthorOfPublication.latestForDiscovery6f68f2a4-9e10-4c94-a5e8-62ba771c81d7
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