Econometric applications of maxmin expec
β
Gary Chamberlain
π
Article
π
2000
π
John Wiley and Sons
π
English
β 423 KB
## Abstract Gilboa and Schmeidler (1989) develop a set of axioms for decision making under uncertainty. The axioms imply a utility function and a set of distributions such that the preference ordering is obtained by calculating expected utility with respect to each distribution in the set, and then