Induced Preferences, Non Additive Probabilities and Multiple Priors
AbstractWe study a decision-maker who follows the Savage axioms. We show that if s(he) is able to take unobservable actions which influence the probabilities of outcomes then it can appear to an outsider as if his/her subjective probabilities are non-additive. Implications for multi-period decisions are explored.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number 96-15.
Length: 30 pages
Date of creation: 1996
Date of revision:
RISK; STATISTICS; UNCERTAINTY; RISK AVERSION;
Find related papers by JEL classification:
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Eichberger, Jurgen & Grant, Simon & Kelsey, David, 2005.
"CEU preferences and dynamic consistency,"
Mathematical Social Sciences,
Elsevier, vol. 49(2), pages 143-151, March.
- Machina, Mark J, 2000. "Payoff Kinks in Preferences Over Lotteries," University of California at San Diego, Economics Working Paper Series qt7vn7d2hs, Department of Economics, UC San Diego.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Colin Rowat).
If references are entirely missing, you can add them using this form.