Ontology highlight
ABSTRACT:
SUBMITTER: Hansen LP
PROVIDER: S-EPMC6140537 | biostudies-literature | 2018 Sep
REPOSITORIES: biostudies-literature
Hansen Lars Peter LP Miao Jianjun J
Proceedings of the National Academy of Sciences of the United States of America 20180828 37
Preferences that accommodate aversion to subjective uncertainty and its potential misspecification in dynamic settings are a valuable tool of analysis in many disciplines. By generalizing previous analyses, we propose a tractable approach to incorporating broadly conceived responses to uncertainty. We illustrate our approach on some stylized stochastic environments. By design, these discrete time environments have revealing continuous time limits. Drawing on these illustrations, we construct rec ...[more]