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Agreement theorem for neo-additive beliefs

Lefort, Jean-Philippe; Dominiak, Adam (2013), Agreement theorem for neo-additive beliefs, Economic Theory, 52, 1, p. 1-13. 10.1007/s00199-011-0678-7

Type
Article accepté pour publication ou publié
Date
2013-01
Journal name
Economic Theory
Volume
52
Number
1
Publisher
Springer
Pages
1-13
Publication identifier
10.1007/s00199-011-0678-7
Metadata
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Author(s)
Lefort, Jean-Philippe

Dominiak, Adam
Abstract (EN)
In this paper, we extend Aumann’s (Ann Stat 4:1236–1239, 1976) probabilistic agreement theorem to situations in which agents’ prior beliefs are represented by a common neo-additive capacity. In particular, we characterize the family of updating rules for neo-additive capacities, which are necessary and sufficient for the impossibility of “agreeing to disagree” on the values of posterior capacities as well as on the values of posterior Choquet expectations for binary acts. Furthermore, we show that generalizations of this result to more general acts are impossible.
Subjects / Keywords
Agreement theorem; Common knowledge; Asymmetric information; Choquet expected utility; Neo-additive capacities; Ambiguity
JEL
D82 - Asymmetric and Private Information; Mechanism Design
D81 - Criteria for Decision-Making under Risk and Uncertainty
D70 - General

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