Monotone Continuous Multiple Priors
AbstractWe 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).
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Bibliographic InfoPaper provided by ICER - International Centre for Economic Research in its series ICER Working Papers - Applied Mathematics Series with number 30-2003.
Length: 24 pages
Date of creation: Jun 2003
Date of revision:
Other versions of this item:
- Alain Chateauneuf & Fabio Macheronni & Massimo Marinacci & Jean-Marc Tallon, 2005. "Monotone continuous multiple priors," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) halshs-00177057, HAL.
- NEP-ALL-2003-11-09 (All new papers)
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- Massimo Marinacci & Luigi Montrucchio, 2005. "Stable cores of large games," International Journal of Game Theory, Springer, vol. 33(2), pages 189-213, 06.
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