Browsing Faculté des arts et des sciences – Département de sciences économiques - Travaux et publications by Author "Amarante, Massimiliano"
Now showing items 1-8 of 8
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Ambiguity on the insurer's side: the demand for insurance
(Université de Montréal. Département de sciences économiques., 2014-10)Empirical evidence suggests that ambiguity is prevalent in insurance pricing and underwriting, and that often insurers tend to exhibit more ambiguity than the insured individuals (e.g., [23]). Motivated by these findings, we consider a problem of demand ... -
Analogy in Decision-Making
(Université de Montréal. Département de sciences économiques., 2009-09)In the context of decision making under uncertainty, we formalize the concept of analogy: an analogy between two decision problems is a mapping that transforms one problem into the other while preserving the problem's structure. We identify the basic ... -
A Characterization of Exact Non-atomic Market Games
(Université de Montréal. Département de sciences économiques., 2013-09)Continuous exact non-atomic games are naturally associated to certain operators between Banach spaces. It thus makes sense to study games by means of the corresponding operators. We characterize non-atomic exact market games in terms of the properties ... -
Conditional Expected Utility
(Université de Montréal. Département de sciences économiques., 2013-02)Let 'epsilon' be a class of event. Conditionally Expected Utility decision makers are decision makers whose conditional preferences ≿E, E є 'epsilon', satisfy the axioms of Subjective Expected Utility theory (SEU). We extend the notion of unconditional ... -
Contracting for innovation under knightian uncertainty
(Université de Montréal. Département de sciences économiques., 2012-09)At any given point in time, the collection of assets existing in the economy is observable. Each asset is a function of a set of contingencies. The union taken over all assets of these contingencies is what we call the set of publicly known states. ... -
A Representation of Risk Measures
(Université de Montréal. Département de sciences économiques., 2013-10)We provide a representation theorem for risk measures satisfying (i) monotonicity; (ii) positive homogeneity; and (iii) translation invariance. As a simple corollary to our theorem, we obtain the usual representation of coherent risk measures (i.e., ... -
Toward a rational-choice foundation of non-additive theories
(Université de Montréal. Département de sciences économiques., 2009-09)A classical argument of de Finetti holds that Rationality implies Subjective Expected Utility (SEU). In contrast, the Knightian distinction between Risk and Ambiguity suggests that a rational decision maker would obey the SEU paradigm when the information ... -
What is ambiguity?
(Université de Montréal. Département de sciences économiques., 2014-03)The concept of Ambiguity designates those situations where the information available to the decision maker is insufficient to form a probabilistic view of the world. Thus, it has provided the motivation for departing from the Subjective Expected Utility ...
