CEU preferences and dynamic consistency

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URL:	http://ub-madoc.bib.uni-mannheim.de/2695
URN:	urn:nbn:de:bsz:180-madoc-26957
Document Type:	Working paper
Year of publication:	2004
The title of a journal, publication series:	None
Publication language:	English
Institution:	School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series:	Sonderforschungsbereich 504 > Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung (Laufzeit 1997 - 2008)
Subject:	330 Economics
Classification:	JEL: D81 ,
Subject headings (SWD):	Erwarteter Nutzen , Nutzentheorie , Dynamisches Modell , Entscheidung bei Unsicherheit
Keywords (English):	Ambiguity , Choquet Integral , Capacity , Dynamic consistency
Abstract:	This paper investigates the dynamic consistency of 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.

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BASE: Grant, Simon ; Eichberger, Jürgen ; Kelsey, David

Google Scholar: Grant, Simon ; Eichberger, Jürgen ; Kelsey, David

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