EconPapers    
Economics at your fingertips  
 

Unambiguous Events and Dynamic Choquet Preferences

Adam Dominiak and Jean-Philippe Lefort

No 489, Working Papers from University of Heidelberg, Department of Economics

Abstract: This paper explores the relationship between dynamic consistency and the existing notions of unambiguous events for Choquet expected utility preferences. A decision maker is faced with an information structure represented by a filtration. We show that the decision maker's preferences respect dynamic consistency on a fixed filtration if and only if the last stage of the filtration is composed of unambiguous events in the sense of Nehring (1999). Adopting two axioms, conditional certainty equivalence consistency and constrained dynamic consistency to filtration measurable acts, it is shown that the decision maker respects these two axioms on a fixed filtration if and only if the last stage of the filtration is made up of unambiguous events the sense of Zhang (2002).

Keywords: Choquet expected utility; unambiguous events; filtration; updating; dynamic consistency; consequentialism (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Date: 2009-09-21
New Economics Papers: this item is included in nep-upt
Note: This paper is part of http://archiv.ub.uni-heidelberg.de/volltextserver/view/schriftenreihen/sr-3.html
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://nbn-resolving.de/urn/resolver.pl?urn=urn:nbn:de:bsz:16-opus-98382 Frontdoor page on HeiDOK (text/html)
http://archiv.ub.uni-heidelberg.de/volltextserver/ ... efort_2009_dp489.pdf (application/pdf)

Related works:
Journal Article: Unambiguous events and dynamic Choquet preferences (2011) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:awi:wpaper:0489

Access Statistics for this paper

More papers in Working Papers from University of Heidelberg, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Gabi Rauscher ( this e-mail address is bad, please contact ).

 
Page updated 2020-11-23
Handle: RePEc:awi:wpaper:0489