Monotone Continuous Multiple Priors
Alain Chateauneuf () and
Jean-Marc Tallon ()
ICER Working Papers - Applied Mathematics Series from ICER - International Centre for Economic Research
We show that the monotone continuity condition introduced by Villegas (1964) and Arrow (1970) is the behavioral counterpart of countable additivity (and relative weak compactness) in a multiple priors model. This generalizes their original result, in which the special case of a singleton set of priors is considered. Further extending their results, we provide a behavioral counterpart for the convex rangedness of the priors (both considered singularly and as a vector measure).
Pages: 24 pages
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Journal Article: Monotone continuous multiple priors (2005)
Working Paper: Monotone continuous multiple priors (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:icr:wpmath:30-2003
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