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q-fin.MF2020
Multi-utility representations of incomplete preferences induced by set-valued risk measures
Cosimo Munari
We establish a variety of numerical representations of preference relations induced by set-valued risk measures. Because of the general incompleteness of such preferences, we have…
q-fin.MF2020
Law-invariant functionals that collapse to the mean
Fabio Bellini, Pablo Koch-Medina, Cosimo Munari +1
We discuss when law-invariant convex functionals "collapse to the mean". More precisely, we show that, in a large class of spaces of random variables and under mild semicontinuity…