
Generalized neo-additive capacities and updating
Eichberger, Jürgen; Grant, Simon; Lefort, Jean-Philippe (2012), Generalized neo-additive capacities and updating, International Journal of Economic Theory, 8, 3, p. 237-257. 10.1111/j.1742-7363.2012.00189.x
Type
Article accepté pour publication ou publiéDate
2012Journal name
International Journal of Economic TheoryVolume
8Number
3Publisher
Wiley
Pages
237-257
Publication identifier
Metadata
Show full item recordAbstract (EN)
This paper shows that, for CEU preferences, the axioms consquentialism, state independence and conditional certainty equivalent consistency under updating characterise a family of capacities, called Genralised Neo-Additive Capacities (GNAC). This family contains as special cases among others neo-additive capacities as introduced by Chateauneuf, Eichberger, and Grant(2007), 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 (1992), equals the set of Bayesian updates of the probability distributions in the core of the original capacity.Subjects / Keywords
Conditional certainty equivalent consistency; neo-additive capacities; Choquet expected utility; Updating; AbiguityRelated items
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