Alfonso Maselli presented his paper “Misspecification Averse Preferences” at the 2025 RUD Jaffray lecture. In the paper, Alfonso develops an axiomatic foundation for a general class of preferences that capture concern toward uncertainty over model ambiguity and model misspecification, and permits a comparison of individuals’ degrees of aversion to model misspecification and model ambiguity independently of each other. The paper can be found at https://economics.sas.upenn.edu/pier/working-paper/2025/misspecification-averse-preferences.
The Jaffray lecture singles out an outstanding paper by young researcher(s). The paper is chosen by the Jaffray lecture committee among the papers selected for presentation at RUD. For more information on the Jaffray lectures and the Risk, Uncertainty & Decision conference, please visit https://sites.google.com/site/rudconference/main?authuser=0