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A General Update Rule for Convex Capacities

Mayumi Horie ()
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Mayumi Horie: Institute of Economic Research, Kyoto University

No 644, KIER Working Papers from Kyoto University, Institute of Economic Research

Abstract: A characterization of a general update rule for convex capacities, the G-updating rule, is investigated. We introduce a consistency property which bridges between unconditional and conditional preferences, and deduce an update rule for unconditional capacities. The axiomatic basis for the G-updating rule is established through consistent counterfactual acts, which take the form of trinary acts expressed in terms of G, an ordered tripartition of global states.

Keywords: ambiguous belief; Bayes' rule; update rule; convex capacity; Choquet ex- pected utility; conditional preference (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Pages: 14pages
Date: 2007-11
New Economics Papers: this item is included in nep-upt
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