Simple Characterization of the Hurwicz Criterium under Uncertainty
Article dans une revue: Schmeidler [1986], [1989] famously used his nonadditive probability model to describe a decision-maker’s uncertainty aversion and/or uncertainty loving. This short note illustrates how nonadditive probability can also be used to obtain a simple characterization of the Hurwicz criterium, where the decision-maker has a balanced attitude towards uncertainty, intermediate between full aversion and full loving.
Auteur(s)
Alain Chateauneuf, Caroline Ventura, Vassili Vergopoulos
Revue
- Revue Economique
Collection
- Special issue dedicated to David Schmeidler
Date de publication
- 2020
Mots-clés JEL
Mots-clés
- Schmeidler’s model
- Hurwicz criterium
- Aversion and attraction with respect to uncertainty
Pages
- 331-336
URL de la notice HAL
Version
- 1
Volume
- 71