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On Uncertainty Aversion under Complete Ignorance: Some Further Observations on the Impossibility Results

Gekker, Ruvin
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http://hdl.handle.net/10379/986
 https://doi.org/10.13025/23067
Publication Date
2005
Keywords
Complete ignorance, Uncertainty aversion, Uncertainty appeal, Economics
Type
Working Paper
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Citation
Gekker, R., (2005) "On Uncertainty Aversion under Complete Ignorance: Some Further Observations on the Impossibility Results" Working Paper No. 0090) Department of Economics, National University of Ireland, Galway.
Abstract
The paper claims that the Monotone Consistency condition utilized by Baigent in his proof of the impossibility theorem is too strong. We factorize this condition into two different weaker conditions and show that they are inconsistent with some variants of the Simple Uncertainty Aversion and the Simple Uncertainty Appeal conditions in the presence of the Independence condition.
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Publisher
National University of Ireland, Galway
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Attribution-NonCommercial-NoDerivs 3.0 Ireland
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Economics (Working Papers)