Ambiguity and Second-Order Belief
在Anscombe-Aumann框架下,用更弱的公理刻画了包含二阶信念(对概率测度的信念)的偏好,这类偏好能解释埃尔斯伯格悖论行为。
Anscombe and Aumann (1963) wrote a classic characterization of subjective expected utility theory. This paper employs the same domain for preference and a closely related (but weaker) set of axioms to characterize preferences that use second-order beliefs (beliefs over probability measures). Such preferences are of interest because they accommodate Ellsberg-type behavior. Copyright 2009 The Econometric Society.