When an Event Makes a Difference

Author Info

• Massimiliano Amarante
• Fabio Maccheroni

()

Abstract

For (S, Î£) a measurable space, let $${\cal C}_1$$ and $${\cal C}_2$$ be convex, weak * closed sets of probability measures on Î£. We show that if $${\cal C}_1$$ âˆª $${\cal C}_2$$ satisfies the Lyapunov property , then there exists a set A âˆˆ Î£ such that min Î¼1 âˆˆ $${\cal C}_1$$ Î¼ 1(A) > max Î¼2 âˆˆ $${\cal C}_2$$ (A). We give applications to Maxmin Expected Utility (MEU) and to the core of a lower probability. Copyright Springer 2006

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Bibliographic Info

Article provided by Springer in its journal Theory and Decision.

Volume (Year): 60 (2006)
Issue (Month): 2 (05)
Pages: 119-126

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Handle: RePEc:kap:theord:v:60:y:2006:i:2:p:119-126

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Related research

Keywords: Lyapunov theorem; Maximin expected utility; lower probability;

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Cited by:
1. Massimiliano Amarante & Luigi Montrucchio, 2010. "The bargaining set of a large game," Economic Theory, Springer, vol. 43(3), pages 313-349, June.
2. Massimiliano Amarante & Luigi Montrucchio, 2007. "Mas-Colell Bargaining Set of Large Games," Carlo Alberto Notebooks 63, Collegio Carlo Alberto.

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