Uncertainty in Economic Theory (Routledge Frontiers of Political Economy, 63)

Book Cover......Page 1
Half-Title......Page 2
Series-Title......Page 3
Title......Page 8
Copyright......Page 9
Contents......Page 10
Contributors......Page 13
Preface......Page 16
Part I Theory......Page 18
1 Introduction......Page 20
2 Preference axiomatizations for decision under uncertainty......Page 37
3 Defining ambiguity and ambiguity attitude......Page 53
4 Introduction to the mathematics of ambiguity......Page 63
5 Subjective probability and expected utility without additivity......Page 125
6 MAxmin expected utility with non-unique prior......Page 142
7 A simple axiomatization of nonadditive expected utility......Page 153
8 Updating ambigous beliefs......Page 172
9 A definition of uncertainty aversion......Page 188
10 Ambiguity made precise......Page 226
11 Stochastically independent randomization and uncertainty aversion......Page 261
12 Decomposition and representation of coalitional games......Page 278
Part II Applications......Page 298
13 An overview of ecnomic applications of David Schmeidler\'s models of decision making under uncertainty......Page 300
14 Ambiguity aversion and incompleteness of contractual form......Page 320
15 Ambiguity aversion and incompleteness of financial markets......Page 353
16 A quartet of semigroups for model specification, robustness, prices of risk, and model detection......Page 381
17 Uncertainty aversion, risk aversion, and the optimal choice of portfolio......Page 436
18 Intertemporal asset pricing under knightian uncertainty......Page 446
19 Sharing beliefs......Page 489
20 Equilibrium in beliefs under uncertainity......Page 500
21 The right to remain silent......Page 539
22 On the measurement of inequality under uncertainty......Page 548
Index......Page 558