Uncertainty: lotteries and risk

Preprint OPEN
Ávalos, Eloy;
(2011)
  • Subject: Incertidumbr; riesgo; lotería simple; lotería compuesta; utilidad esperada; paradoja de San Petersburgo; paradoja de Allais; paradoja de Ellsberg; prima de riesgo; aversión al riesgo
    • jel: jel:D80 | jel:D81
    arxiv: Computer Science::Computer Science and Game Theory

In this paper we develop the theory of uncertainty in a context where the risks assumed by the individual are measurable and manageable. We primarily use the definition of lottery to formulate the axioms of the individual's preferences, and its representation through th... View more
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