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Coherence without Additivity

Enrico Diecidue () and Fabio Maccheroni

ICER Working Papers - Applied Mathematics Series from ICER - International Centre for Economic Research

Abstract: The Dutch book argument is a coherence condition for the existence of subjective probabilities. This note gives a general framework of analysis for this argument in a nonadditive probability setting. Particular cases are given by comonotonic and affinely related Dutch books that lead to Choquet expectations and Min expectations.

Keywords: Coherence; Dutch Book; Constant Linearity; Choquet Expectation; Multiple Priors (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2002-02
New Economics Papers: this item is included in nep-ecm and nep-rmg
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