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On Uncertainty Aversion under Complete Ignorance: Some Further Observations on the Impossibility Results

Author

Listed:
  • Ruvin Gekker

    (Department of Economics, National University of Ireland, Galway)

Abstract

The paper claims that the Monotone Consistency condition utilized by Baigent in his proof of the impossibility theorem is too strong. We factorize this condition into two different weaker conditions and show that they are inconsistent with some variants of the Simple Uncertainty Aversion and the Simple Uncertainty Appeal conditions in the presence of the Independence condition.

Suggested Citation

  • Ruvin Gekker, 2005. "On Uncertainty Aversion under Complete Ignorance: Some Further Observations on the Impossibility Results," Working Papers 0090, National University of Ireland Galway, Department of Economics, revised 2005.
    • Handle: RePEc:nig:wpaper:0090
    as

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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=90
    File Function: First version, 2005
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=90
    File Function: Revised version, 2005
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    More about this item

    Keywords

    complete ignorance; uncertainty aversion; uncertainty appeal;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

    Statistics

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