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Efficient Allocations under Ambiguous Model Uncertainty

Abstract : We investigate consequences of ambiguity on efficient allocations in an exchange economy. Ambiguity is embodied in the model uncertainty perceived by the consumers: they are unsure what would be the appropriate probability measure to apply to evaluate consumption and keep in consideration a set P of alternative probabilistic laws. Consumers are heterogeneously ambiguity averse with smooth
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Preprints, Working Papers, ...
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https://shs.hal.science/halshs-03828305
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Submitted on : Tuesday, October 25, 2022 - 11:14:42 AM
Last modification on : Thursday, November 3, 2022 - 12:03:08 PM

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wp_202236_.pdf
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  • HAL Id : halshs-03828305, version 1

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Chiaki Hara, Sujoy Mukerji, Frank Riedel, Jean-Marc Marc Tallon. Efficient Allocations under Ambiguous Model Uncertainty. 2022. ⟨halshs-03828305⟩

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