Updating Choquet capacities: a general framework
AbstractSeveral updating rules for Choquet capacities have been proposed in the literature. We propose to study them in a general framework consisting of extending the definition of conditional expectations to the Choquet case. Then we adopt several relations between unconditional and conditional expectations and observe which updating rule is able to resolve such and such a relation. It allows to specify which updating rule should be used depending on the decision context.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 32 (2012)
Issue (Month): 2 ()
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Choquet expected utility; Capacities; Updating;
Find related papers by JEL classification:
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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- Itzhak Gilboa & David Schmeidler, 1991.
"Updating Ambiguous Beliefs,"
924, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Jurgen Eichberger & Simon Grant & David Kelsey, 2006.
"Updating Choquet Beliefs,"
0607, Exeter University, Department of Economics.
- Massimiliano AMARANTE, 2014. "What is Ambiguity?," Cahiers de recherche 04-2014, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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