Richard Bradley (LSE): Decision Theory Masterclass (3 of 3)

In this third masterclass I will be presenting the main ‘post-Bayesian’ models of decision making under uncertainty (ambiguity); including Maximin EU; the ‘smooth’ model of ambiguity and Bewley’s theory of choice under incompleteness. In order to understand the background for these models I will look briefly at the older literature on decision making under ignorance and present the Anscombe-Aumann framework within which much of the contemporary literature works.