# Non-expected utility risk premiums: The cases of probability ambiguity and outcome uncertainty

@article{Segal1988NonexpectedUR, title={Non-expected utility risk premiums: The cases of probability ambiguity and outcome uncertainty}, author={Uzi Segal and Avia Spivak}, journal={Journal of Risk and Uncertainty}, year={1988}, volume={1}, pages={333-347} }

This paper discusses two problems. (a) What happens to the conditional risk premium that a decision maker is willing to pay out of the middle prize in a lottery to avoid uncertainty concerning the middle prize outcome, when the probabilities of other prizes change? (b) What happens to the increase that a decision maker is willing to accept in the probability of an unpleasant outcome in order to avoid ambiguity concerning this probability, when this probability increases? We discuss both… Expand

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