Generalized neo-additive capacities and updating
This paper shows that, for Choquet expected utility preferences, the axioms consquentialism, state independence and conditional certainty equivalent consistency under updating characterise a family of capacities, which we call Generalized Neo-Additive Capacities (GNAC). This family contains as speci...
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| Main Authors: | , , |
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| Format: | Article (Journal) |
| Language: | English |
| Published: |
27 August 2012
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| In: |
International journal of economic theory
Year: 2012, Volume: 8, Issue: 3, Pages: 237-257 |
| ISSN: | 1742-7363 |
| DOI: | 10.1111/j.1742-7363.2012.00189.x |
| Online Access: | Verlag, Volltext: https://doi.org/10.1111/j.1742-7363.2012.00189.x Verlag, Volltext: https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1742-7363.2012.00189.x 
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| Author Notes: | Jürgen Eichberger, Simon Grant and Jean-Philippe Lefort |
| Summary: | This paper shows that, for Choquet expected utility preferences, the axioms consquentialism, state independence and conditional certainty equivalent consistency under updating characterise a family of capacities, which we call Generalized Neo-Additive Capacities (GNAC). This family contains as special cases, among others, neo-additive capacities as introduced by Chateauneuf, Eichberger, and Grant, Hurwicz capacities, and ɛ-contaminations. Moreover, we will show that the convex version of a GNAC is the only capacity for which the core of the full Bayesian updates of a capacity, introduced by Jaffray, equals the set of Bayesian updates of the probability distributions in the core of the original capacity. |
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| Item Description: | Gesehen am 18.06.2019 |
| Physical Description: | Online Resource |
| ISSN: | 1742-7363 |
| DOI: | 10.1111/j.1742-7363.2012.00189.x |