Subjective expected utility with non-additive probabilities on finite state spaces

Nakamura, Yutaka

doi:10.1016/0022-0531(90)90022-c

Cited by 80 publications

(65 citation statements)

References 12 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…'Only if' part: Suppose that admits V and ρ satisfying (22), and let A ∈ Σ be an essential event. We can follow the steps of the proof of Lemma 6 to show that we can apply Theorem 1 of CK to A , the restriction of to F A .…”

Section: Lemmamentioning

confidence: 99%

Risk, Ambiguity, and the Separation of Utility and Beliefs

2001

View full text Add to dashboard Cite

We introduce and characterize axiomatically a general model of static choice under uncertainty, which is possibly the weakest model in which a separation of cardinal utility and a representation of beliefs is achieved. Most of the popular non-expected utility models in the literature are special cases of it.To prove its usefulness, we show that the model can be used to generalize several well known results on the characterization of risk aversion. Elsewhere [15] we have shown that it can be fruitfully applied to the problem of characterizing a notion of ambiguity aversion, as the separation of utility and beliefs that we achieve can be used to identify and remove aspects of risk attitude from the decision maker's behavior. JEL classification numbers: D81

show abstract

Section: Lemmamentioning

confidence: 99%

Risk, Ambiguity, and the Separation of Utility and Beliefs

2001

View full text Add to dashboard Cite

show abstract

“…We will compare different ways to 1) For Choquet expected Utility see Schmeidler (1989) . See also Gilboa (1987), Schmeidler (1986), Wakker (1989) and Nakamura (1990). 2 elicit non-additive probabilities, test implications of the theory and try to predict decision makers' behavior in decision situations under ambiguity.…”

Section: Introductionmentioning

confidence: 99%

Testing choquet expected utility

Mangelsdorff

Weber

1994

Journal of Economic Behavior & Organization

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in

show abstract

“…Assuming a rich set of consequences and allowing for a finite state space CEU preferences were axiomatized by Wakker (1989), Nakamura (1990 and Chew and Karni (1994).…”

Section: Notationmentioning

confidence: 99%

“…It is satisfied in all axiomatizations of CEU in finite state space set-up. For instance, Nakamura (1990) and Chew and Karni (1994) impose it directly on , while Wakker (1989) requires X to be a connected and separable topological space.…”

Section: Notationmentioning

confidence: 99%

Unambiguous events and dynamic Choquet preferences

Dominiak

Lefort

2009

Econ Theory

View full text Add to dashboard Cite

This paper explores the relationship between dynamic consistency and the existing notions of unambiguous events for Choquet expected utility preferences. A decision maker is faced with an information structure represented by a filtration. We show that the decision maker's preferences respect dynamic consistency on a fixed filtration if and only if the last stage of the filtration is composed of unambiguous events in the sense of Nehring (1999). Adopting two axioms, conditional certainty equivalence consistency and constrained dynamic consistency to filtration measurable acts, it is shown that the decision maker respects these two axioms on a fixed filtration if and only if the last stage of the filtration is made up of unambiguous events the sense of Zhang (2002).

show abstract

Subjective expected utility with non-additive probabilities on finite state spaces

Cited by 80 publications

References 12 publications

Risk, Ambiguity, and the Separation of Utility and Beliefs

Risk, Ambiguity, and the Separation of Utility and Beliefs

Testing choquet expected utility

Unambiguous events and dynamic Choquet preferences

Contact Info

Product

Resources

About