Choice under Uncertainty with the Best and Worst in Mind: Neo-additive Capacities
Simon Grant,
Alain Chateauneuf and
Jürgen Eichberger
Working Papers from Rice University, Department of Economics
Abstract:
The concept of a non-extreme-outcome-additive capacity (neo-additive capacity ) is introduced. Neo-additive capacities model optimistic and pessimistic attitudes towards uncertainty as observed in many experimental studies. Moreover, neo-additive capacities can be applied easily in economic problems, as we demonstrate by examples. This paper provides an axiomatisation of Choquet expected utility with neo-capacities in a framework of purely subjective uncertainty.
JEL-codes: D81 (search for similar items in EconPapers)
Date: 2002-09
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)
Downloads: (external link)
http://www.ruf.rice.edu/~econ/papers/2002papers/10Grant.pdf
Related works:
Journal Article: Choice under uncertainty with the best and worst in mind: Neo-additive capacities (2007) 
Working Paper: Choice under uncertainty with the best and worst in mind: neo-additive capacities (2007)
Working Paper: Choice under uncertainty with the best and worst in mind: neo-additive capacities (2007)
Working Paper: Choice under uncertainty with the best and worst in mind: neo-additive capacities (2003) 
Working Paper: Choice under Uncertainty with the Best and Worst in Mind: Neo-additive Capacities (2003) 
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:ecl:riceco:2002-10
Access Statistics for this paper
More papers in Working Papers from Rice University, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by ().