A New Paper on Uncertainty Aversion

[Kensei Nakamura]

Dear all,

Shohei Yanagita and I have written a paper on a generalization of the maxmin EU model. Here is the link:

https://arxiv.org/abs/2501.13410

In this paper, we study the axiom that requires the uncertainty-averse attitude only when randomization makes a complete hedge. Our main result shows that if we replace Uncertainty Aversion with the above axiom in the characterization of the maxmin EU model, a new representation can be obtained.

Any comments are most welcome.

Best regards,
Kensei

Kensei Nakamura
Graduate School of Economics, Hitotsubashi University
Email: kensei.nak...@gmail.com
Website: https://sites.google.com/view/kenseinakamura/home