کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
957071 | 928506 | 2007 | 30 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Choice under uncertainty with the best and worst in mind: Neo-additive capacities
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
We develop the simplest generalization of subjective expected utility that can accommodate both optimistic and pessimistic attitudes towards uncertainty—Choquet expected utility with non-extreme-outcome-additive (neo-additive) capacities. A neo-additive capacity can be expressed as the convex combination of a probability and a special capacity, we refer to as a Hurwicz capacity, that only distinguishes between whether an event is impossible, possible or certain. We show that neo-additive capacities can be readily applied in economic problems, and we provide an axiomatization in a framework of purely subjective uncertainty.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 137, Issue 1, November 2007, Pages 538–567
Journal: Journal of Economic Theory - Volume 137, Issue 1, November 2007, Pages 538–567
نویسندگان
Alain Chateauneuf, Jürgen Eichberger, Simon Grant,