Article | Economics Letters | January 2000

Maxmin Expected Utility through Statewise Combinations

by Ramon Casadesus-Masanell, Peter Klibanoff and Emre Ozdenoren

Abstract

This paper provides an axiomatic foundation for a maxmin expected utility over a set of priors (MMEU) decision rule in an environment where the elements of choice are Savage acts. The key axioms are stated using statewise combinations as in Gul (1992).

Keywords: Decision Choices and Conditions; Mathematical Methods;

Citation:

Casadesus-Masanell, Ramon, Peter Klibanoff, and Emre Ozdenoren. "Maxmin Expected Utility through Statewise Combinations." Economics Letters 66, no. 1 (January 2000): 49–54.