Reexamination on updating Choquet beliefs

Mayumi Horie

Journal of Mathematical Economics, 2013, vol. 49, issue 6, 467-470

Abstract: Eichberger et al. (2007) characterize the full Bayesian update rule for capacities. This paper shows that a conditional preference relation represented by the Choquet expected utility with respect to the updated capacity through the rule does not satisfy the axiom of Conditional Certainty Equivalence Consistency. A counterexample is provided and it is proved that a relaxation of the axiom maintains their results.

Keywords: Bayesian update; Capacity; Conditional preference; Choquet expected utility (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:49:y:2013:i:6:p:467-470

DOI: 10.1016/j.jmateco.2013.09.001

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