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The epsilon-Gini-contamination multiple priors model admits a linear-mean-standard-deviation utility representation. (English) Zbl 1255.91254
Summary: We introduce the \(\epsilon \)-Gini-contamination multiple priors model in which the set of priors are those probability measures that are ‘close’ to a central \(P\) with respect to the relative Gini concentration index. We show that such preferences can be represented by a linear-mean-standard-deviation utility function on a restricted domain.

MSC:
91B62 Economic growth models
62A01 Foundations and philosophical topics in statistics
60B10 Convergence of probability measures
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