Attitudes toward the timing of resolution of uncertainty and the existence of recursive utility

Article Abstract:

Research was conducted to examine the class of intertemporal recursive utility functions developed by Epstein and Zin and Chew and Epstein. Focus was on their implications on the attitudes toward the timing of uncertainty resolution. Also examined were the relationships between the attitudes toward the resolution of uncertainty and existence of recursive utility as a solution to the Koopmans equation. Results demonstrate that preference for an early resolution implies an upper semi-continuous recursive utility while a late resolution implies lower semi-continuous recursive utility.

Research, Recursive functions

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Uncertainty aversion and rationality in games of perfect information

Article Abstract:

Models for uncertainty and games in a perfect information environment are presented. Players are assumed to be rational and the games correspond to a rational mode.

Statistical Data Included, Models, Information theory, Uncertainty (Information theory)

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Uncertainty aversion and rationality in games of perfect information

Article Abstract:

The impact of uncertainty aversion is analyzed as a way of understanding game theory in a perfect information game. Equilibria in this game are also explained.

Economics, Research and Development in the Social Sciences and Humanities, Analysis, Economic aspects, Risk (Economics), Equilibrium (Economics)

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