Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 25, 2013 erstellt
Description:
We derive necessary and sufficient conditions for data sets composed of state-contingent prices and consumption to be consistent with two prominent models of decision making under ambiguity: variational preferences and smooth ambiguity. The revealed preference conditions for the maxmin expected utility and subjective expected utility models are characterized as special cases