模糊模型与马基纳悖论

Ambiguity Models and the Machina Paradoxes

American Economic Review · 2011
被引 85
人大 A+FT50ABS 4*

中文导读

马基纳的两个例子不仅否定了乔凯特期望效用模型,还否定了最大最小期望效用、变分偏好等四种流行模糊模型,对当前模糊性研究领域构成挑战,并讨论了替代模型如何解释这些悖论。

Abstract

Machina (2009) introduced two examples that falsify Choquet expected utility, presently one of the most popular models of ambiguity. This article shows that Machina's examples falsify not only the model mentioned, but also four other popular models for ambiguity of the literature, namely maxmin expected utility, variational preferences, α-maxmin, and the smooth model of ambiguity aversion. Thus, Machina's examples pose a challenge to most of the present field of ambiguity. Finally, the paper discusses how an alternative representation of ambiguity-averse preferences works to accommodate the Machina paradoxes and what drives the results.

Machina悖论模糊性模型Choquet期望效用模糊厌恶偏好