3 papers
econ.TH2025
Aggregate then evaluate
Zachary Van Oosten, Ruodu Wang
We distinguish two frameworks for decisions under ambiguity: evaluate-then-aggregate (ETA) and aggregate-then-evaluate (ATE). Given a statistic that represents the decision maker's…
econ.TH2025
Choquet rank-dependent utility with an exogenous unambiguous source
Zachary Van Oosten, Ruodu Wang
We axiomatize the Choquet rank-dependent utility model within a Savage framework with an exogenous source of pure risk. This model is a decision model under ambiguity, serving as a…
q-fin.RM2025
Partial Law Invariance and Risk Measures
Yi Shen, Zachary Van Oosten, Ruodu Wang
We introduce the concept of partial law invariance, generalizing the concepts of law invariance and probabilistic sophistication widely used in decision theory, as well as statisti…