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 578. Absolute and Relative Ambiguity Aversion: A Preferential Approach

by S. Cerreia-Vioglio, F. Maccheroni, and M. Marinacci

We study from a preferential viewpoint absolute and relative attitudes toward ambiguity determined by wealth effects. We provide different characterizations of these attitudes for a large class of preferences: monotone and continuous preferences which satisfy risk independence. We specify our results for different subclasses of preferences. 

Last updated September 7, 2017