Expected Uncertain Utility Theory

Author(s): Gul, Faruk R.; Pesendorfer, Wolfgang

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DC Field	Value	Language
dc.contributor.author	Gul, Faruk R.	-
dc.contributor.author	Pesendorfer, Wolfgang	-
dc.date.accessioned	2019-07-11T18:20:58Z	-
dc.date.available	2019-07-11T18:20:58Z	-
dc.date.issued	2014-01	en_US
dc.identifier.citation	Gul, F, Pesendorfer, W. (2014). Expected Uncertain Utility Theory. Econometrica, 82 (1), 1 - 39. doi:10.3982/ECTA9188	en_US
dc.identifier.issn	0012-9682	-
dc.identifier.uri	http://arks.princeton.edu/ark:/88435/pr1st67	-
dc.description.abstract	We introduce and analyze expected uncertain utility (EUU) theory. A prior and an interval utility characterize an EUU decision maker. The decision maker transforms each uncertain prospect into an interval-valued prospect that assigns an interval of prizes to each state. She then ranks prospects according to their expected interval utilities. We define uncertainty aversion for EUU, use the EUU model to address the Ellsberg Paradox and other ambiguity evidence, and relate EUU theory to existing models. © 2014 The Econometric Society.	en_US
dc.format.extent	1 - 39	en_US
dc.language.iso	en	en_US
dc.relation.ispartof	Econometrica	en_US
dc.rights	Final published version. Article is made available in OAR by the publisher's permission or policy.	en_US
dc.title	Expected Uncertain Utility Theory	en_US
dc.type	Journal Article	en_US
dc.identifier.doi	doi:10.3982/ECTA9188	-
dc.identifier.eissn	1468-0262	-
pu.type.symplectic	http://www.symplectic.co.uk/publications/atom-terms/1.0/journal-article	en_US

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