CEU preferences and dynamic consistency


Grant, Simon ; Eichberger, Jürgen ; Kelsey, David


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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
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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Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Grant, Simon ; Eichberger, Jürgen ; Kelsey, David (2004) CEU preferences and dynamic consistency. Open Access [Working paper]
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