Subjective Probabilities on Subjectively Unambiguous Events

By Larry G. Epstein, Jiankang Zhang. 2001

280 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences, Sociology and Political Science

View Paper: https://www.semanticscholar.org/paper/210f4c509ee983a89a85a700fb761326258f93e5

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Citations in the corpus

Ambiguity and Ambiguity Aversion (2014, background): “According to the Epstein-Zhang definition, all events are subjectively unambiguous, whereas the Ghirardato-Maccheroni-Marinacci approach concludes that some ambiguity is perceived.”
A Smooth Model of Decision Making under Ambiguity (2005, unknown): “Epstein and Zhang (2001) and Ghirardato and Marinacci (2002) have proposed behavioral notions of ambiguity meant to apply to a wide range of preferences.”
Decision making with imprecise probabilistic information (2004, methodology): “This definition differs from the one in Ghirardato and Marinacci (2002) and Epstein (1999), in that we restrict attention to comparisons among binary lotteries and binary acts.”
Subjective ambiguity, expected utility and Choquet expected utility (2002, background): “As a result, is Savage-representable on F ua if it satisfies Axioms 1-6 in [5].”
Risk, Uncertainty, and Option Exercise (2011, methodology): “Our interpretation of this proposition is based on the definition of absolute and comparative ambiguity aversion proposed by Ghirardato and Marinacci (2002).9 Their theory may also provide a behavioral 9 See Epstein (1999) and Epstein and Zhang (2001) for a different definition.”
Expected Utility with Uncertain Probabilities Theory (2017, unknown): “Yet, a probability measure can be defined on H (Epstein and Zhang, 2001).”
Uncertainty Aversion with Second-Order Utilities and Probabilities (2006, background): “ambiguity, alluded to by Epstein and Zhang (2001) .”
Vector Expected Utility and Attitudes Toward Variation (2008, background): “(1) into a suitable function A(·) and a collection (ζi )0≤i n of adjustment factors provides a direct, explicit representation of eventwise complementarity—a key behavioral feature of am- biguous events highlighted in the analysis of Epstein and Zhang [21].”
Risk, Uncertainty, and Expected Returns (2011, methodology): “denoted by FF3) from the regression of the average excess portfolio returns on a constant, the excess market return, a size factor (SMB), and a book-to-market factor (HML), following Fama and French (1993). As shown in the last row of Table 4, the difference in FF3 alphas between the High VRP and Lo”
EXPECTED UNCERTAIN UTILITY THEORY (2014, background): “At one extreme, there are papers such as Gilboa (1987), Casadesus-Masanell, Klibanoff, and Ozdenoren (2000), Epstein and Zhang (2001), the current paper, and a number of others that study preferences over Savage acts over an unstructured state space.”