Abstract
We study the problem of uncertainty sharing within a household "risk sharing," in a context of Knightian uncertainty. A househol shares uncertain prospects using a social welfare function. We cha acterize the social welfare functions such that the household is collectively less averse to uncertainty than each member, and satisfies the Pareto principle and an independence axiom. We single out the sum of certainty equivalents as the unique member of this family which provides quasiconcave rankings over uncertainty-free allocations.
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