Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10480444 | Mathematical Social Sciences | 2005 | 9 Pages |
Abstract
This paper investigates the dynamic consistency of Choquet Expected Utility (CEU) preferences. A decision-maker is faced with an information structure represented by a fixed filtration. If beliefs are represented by a convex capacity, we show that a necessary and sufficient condition for dynamic consistency is that beliefs be additive over the final stage in the filtration.
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
Jürgen Eichberger, Simon Grant, David Kelsey,