Agreeable trade with optimism and pessimism
In this paper we extend the results on ex-ante agreeable trade of Kajii and Ui [Kajii, A., Ui, T., 2006. Agreeable bets with multiple priors. Journal of Economic Theory 128, 299-305] to the case of nonconvex Choquet preferences. We discuss the economic relevance of the main result for the existence...
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| Main Authors: | , , |
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| Format: | Article (Journal) |
| Language: | English |
| Published: |
2 June 2012
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| In: |
Mathematical social sciences
Year: 2012, Volume: 64, Issue: 2, Pages: 119-126 |
| DOI: | 10.1016/j.mathsocsci.2012.03.006 |
| Online Access: | Verlag, Volltext: http://dx.doi.org/10.1016/j.mathsocsci.2012.03.006 Verlag, Volltext: http://linkinghub.elsevier.com/retrieve/pii/S0165489612000285 
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| Author Notes: | Adam Dominiak, Jürgen Eichberger, Jean-Philippe Lefort |
| Summary: | In this paper we extend the results on ex-ante agreeable trade of Kajii and Ui [Kajii, A., Ui, T., 2006. Agreeable bets with multiple priors. Journal of Economic Theory 128, 299-305] to the case of nonconvex Choquet preferences. We discuss the economic relevance of the main result for the existence of speculative trade under ambiguity. Following Haller [Haller, H., 1990. Non-market reopening, timeconsistent plans and the structure of intertemporal preferences. Economics Letters 32, 1-5] we also elaborate the relevance of updating preferences upon arrival of public information for the potential of re-contracting initial contingent claims. |
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| Item Description: | Gesehen am 25.07.2018 |
| Physical Description: | Online Resource |
| DOI: | 10.1016/j.mathsocsci.2012.03.006 |