Sharing Model Uncertainty

主讲人	Jean-Marc Tallon	简介	<p>This paper examines efficient allocations in economies where consumers exhibit heterogeneous smooth ambiguity preferences and face model uncertainty with a common set of identifiable models. Aggregate endowment is ambiguous. We characterize economies where the representative consumer is of the smooth ambiguity type and derive efficient sharing rules. Heterogeneous ambiguity aversion leads to sharing rules that systematically differ from those in vNM-economies. The representative consumer’s ambiguity aversion differs from that of the typical consumer; this leads to more compelling asset-pricing predictions. We focus on point-identified models but show that our insights extend to partially-identified models.</p>
时间	2026-11-19 (Thursday) 16:40-18:00	地点	Room C108, Economics Building
讲座语言	English	主办单位	厦门大学经济学院、王亚南经济研究院、邹至庄经济研究院
承办单位	厦门大学经济学院、王亚南经济研究院、邹至庄经济研究院	类型	系列讲座
联系人信息	叶老师，电话2181098，邮箱yhye.wise@xmu.edu.cn	主持人	Zhi Li
专题网站		专题
主讲人简介	<p>Jean-Marc Tallon is Research Professor at the French National Centre for Scientific Research (CNRS) and Professor at the Paris School of Economics, where he also serves as Director of Research. He holds a PhD in Economics from the University of Pennsylvania. His research focuses on decision theory under uncertainty and its applications to financial markets and welfare economics. In particular, he studies how individuals and markets respond to ambiguity—situations in which the probabilities of possible outcomes are themselves uncertain. His work examines portfolio choice, risk sharing, and financial market equilibrium when individuals differ in their beliefs and attitudes towards uncertainty. Another major strand of his research explores how individual preferences and beliefs can be aggregated to inform collective decisions. Combining economic theory with empirical and experimental investigations, his research has appeared in leading journals, including the <em>American Economic Review,</em> the<em> Journal of Economic Theory, Management Science,</em> and<em> </em>the<em> American Economic Journal: Microeconomics.</em> He is a fellow of the Society for the Advancement of Economic Theory.</p>	期数	高级经济学系列讲座2026年秋季学期第五讲（总508讲）

主讲人：	Jean-Marc Tallon
主讲人简介：	Jean-Marc Tallon is Research Professor at the French National Centre for Scientific Research (CNRS) and Professor at the Paris School of Economics, where he also serves as Director of Research. He holds a PhD in Economics from the University of Pennsylvania. His research focuses on decision theory under uncertainty and its applications to financial markets and welfare economics. In particular, he studies how individuals and markets respond to ambiguity—situations in which the probabilities of possible outcomes are themselves uncertain. His work examines portfolio choice, risk sharing, and financial market equilibrium when individuals differ in their beliefs and attitudes towards uncertainty. Another major strand of his research explores how individual preferences and beliefs can be aggregated to inform collective decisions. Combining economic theory with empirical and experimental investigations, his research has appeared in leading journals, including the American Economic Review, the Journal of Economic Theory, Management Science, and the American Economic Journal: Microeconomics. He is a fellow of the Society for the Advancement of Economic Theory.
主持人：	Zhi Li
简介：	会议
时间：	2026-11-19 (Thursday) 16:40-18:00
地点：	Room C108, Economics Building
期数：	高级经济学系列讲座2026年秋季学期第五讲（总508讲）
主办单位：	厦门大学经济学院、王亚南经济研究院、邹至庄经济研究院
承办单位：	厦门大学经济学院、王亚南经济研究院、邹至庄经济研究院
类型：	系列讲座