Yeah, that’s the part I’m referring to. I take his comment that expectations are not random variables to be criticizing taking expectations over expected utility with respect to uncertain probabilities.
I think the critical review of ambiguity aversion I linked to us sufficiently general that any alternatives to taking expectations with respect to uncertain probabilities will have seriously undesirable features.
Yeah, that’s the part I’m referring to. I take his comment that expectations are not random variables to be criticizing taking expectations over expected utility with respect to uncertain probabilities.
I think the critical review of ambiguity aversion I linked to us sufficiently general that any alternatives to taking expectations with respect to uncertain probabilities will have seriously undesirable features.