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Monotone Continuous Multiple Priors

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Author Info

  • Massimo Marinacci

    ()

  • Fabio Maccheroni

    ()

  • Alain Chateauneuf

    ()

  • Jean-Marc Tallon

    ()

Abstract

We 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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File URL: http://www.icer.it/docs/wp2003/Maccheroni-Marinacci30-03.pdf
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Bibliographic Info

Paper provided by ICER - International Centre for Economic Research in its series ICER Working Papers - Applied Mathematics Series with number 30-2003.

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Length: 24 pages
Date of creation: Jun 2003
Date of revision:
Handle: RePEc:icr:wpmath:30-2003

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  1. 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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