112 citations · 128 across the 13 of their papers we have counts for
10 papers · 1 filter
Disappointment Aversion and Expectiles
Fabio Bellini, Fabio Maccheroni, Tiantian Mao +2
This paper recasts Gul's (1991) theory of disappointment aversion in a Savage framework, with general outcomes, new explicit axioms of disappointment aversion, and novel explicit r…
Risk Aversion and Insurance Propensity
Fabio Maccheroni, Massimo Marinacci, Ruodu Wang +1
We provide a new foundation of risk aversion by showing that this attitude is fully captured by the propensity to seize insurance opportunities. Our foundation, which applies to al…
Algorithmic Decision Processes
Carlo Baldassi, Fabio Maccheroni, Massimo Marinacci +1
We develop a full-fledged analysis of an algorithmic decision process that, in a multialternative choice problem, produces computable choice probabilities and expected decision tim…
Quantal Response Equilibrium and Rationalizability: Inside the Black Box
Shuige Liu, Fabio Maccheroni
This paper aims to connect epistemic and behavioral game theory by examining the epistemic foundations of quantal response equilibrium (QRE) in static games. We focus on how much i…
Star-shaped Risk Measures
Erio Castagnoli, Giacomo Cattelan, Fabio Maccheroni +2
In this paper monetary risk measures that are positively superhomogeneous, called star-shaped risk measures, are characterized and their properties studied. The measures in this cl…
Making Decisions under Model Misspecification
Simone Cerreia-Vioglio, Lars Peter Hansen, Fabio Maccheroni +1
We use decision theory to confront uncertainty that is sufficiently broad to incorporate "models as approximations." We presume the existence of a featured collection of what we ca…
A Canon of Probabilistic Rationality
Simone Cerreia-Vioglio, Per Olov Lindberg, Fabio Maccheroni +2
We prove that a random choice rule satisfies Luce's Choice Axiom if and only if its support is a choice correspondence that satisfies the Weak Axiom of Revealed Preference, thus it…
Equilibria of nonatomic anonymous games
Simone Cerreia-Vioglio, Fabio Maccheroni, David Schmeidler
We add here another layer to the literature on nonatomic anonymous games started with the 1973 paper by Schmeidler. More specifically, we define a new notion of equilibrium which w…
Multinomial logit processes and preference discovery: inside and outside the black box
Simone Cerreia-Vioglio, Fabio Maccheroni, Massimo Marinacci +1
We provide two characterizations, one axiomatic and the other neuro-computational, of the dependence of choice probabilities on deadlines, within the widely used softmax representa…
Behavioral Equivalence of Extensive Game Structures
Pierpaolo Battigalli, Paolo Leonetti, Fabio Maccheroni
Two extensive game structures with imperfect information are said to be behaviorally equivalent if they share the same map (up to relabelings) from profiles of structurally reduced…