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Apparent overconfidence
(Universidad de Montevideo, Facultad de Ciencias Empresariales y Economía, Departamento de Economía, 2011)
It is common for a majority of people to rank themselves as better than average on simple tasks and worse than average on difficult tasks. The literature takes for granted that this apparent misconfidence is problematic. ...
Continuity and completeness under risk
(Universidad de Montevideo, Facultad de Ciencias Empresariales y Economía, Departamento de Economía, 2010)
Suppose some non-degenerate preferences R, with strict part P, over risky outcomes satisfy Independence. Then, when they satisfy any two of the following axioms, they satisfy the third. Herstein-Milnor: for all lotteries ...