Download This PaperPareto Optimal Allocations for Probabilistic Sophisticated Variational Preferences
43 Pages Posted: 14 Jul 2011 Last revised: 5 Oct 2011
Date Written: September 2011
Abstract
We prove the existence of Pareto optimal allocations within sets of acceptable allocations when decision makers have probabilistic sophisticated variational preferences defined on random endowments in L1.
Keywords: Pareto optimal allocations, variational preferences, probabilistic sophis- tication, ambiguity aversion, weighted sup-convolution optimization problems
JEL Classification: D81, D86
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
A Smooth Model of Decision Making Under Ambiguity
By Peter Klibanoff, Massimo Marinacci, ...
-
Model Misspecification and Under-Diversification
By Tan Wang and Raman Uppal
-
Model Misspecification and Under-Diversification
By Tan Wang and Raman Uppal
-
By Larry G. Epstein and Martin Schneider
-
Model Uncertainty, Limited Market Participation and Asset Prices
By H. Henry Cao, Harold H. Zhang, ...
-
Ambiguity, Learning, and Asset Returns
By Nengjiu Ju and Jianjun Miao
-
Learning and Asset Prices Under Ambiguous Information
By Paolo Vanini, Markus Leippold, ...
-
By David Easley and Maureen O'hara
-
By Larry G. Epstein and Martin Schneider