Generalized neo-additive capacities and updating

Eichberger, Jurgen, Grant, Simon and Lefort, Jean-Philippe (2012) Generalized neo-additive capacities and updating. International Journal of Economic Theory, 8 3: 237-257. doi:10.1111/j.1742-7363.2012.00189.x

Author Eichberger, Jurgen
Grant, Simon
Lefort, Jean-Philippe
Title Generalized neo-additive capacities and updating
Journal name International Journal of Economic Theory   Check publisher's open access policy
ISSN 1742-7355
Publication date 2012-09
Sub-type Article (original research)
DOI 10.1111/j.1742-7363.2012.00189.x
Volume 8
Issue 3
Start page 237
End page 257
Total pages 21
Place of publication West Sussex, United Kingdom
Publisher Wiley-Blackwell Publishing
Collection year 2013
Language eng
Formatted abstract
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
(GNAC). This family contains as special cases, among others, neo-additive
capacities as introduced by Chateauneuf, Eichberger, and Grant, Hurwicz capacities,
and ε-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.
Keyword Ambiguity
Choquet Expected Utility
Dynamic consistency updating
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2013 Collection
School of Economics Publications
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