IDEAS home Printed from https://ideas.repec.org/a/bla/econom/v64y1997i255p471-481.html
   My bibliography  Save this article

Induced Preferences, Dynamic Consistency and Dutch Books

Author

Listed:
  • David Kelsey
  • Frank Milne

Abstract

We assume that a decision‐maker has expected utility preferences over a large space which includes some variables not observable by the theorist. These will induce preferences over observable variables, which typically will not have the expected utility form. This paper focuses on implications for multi‐period decisions. We show that such preferences are not vulnerable to ‘Dutch books’. In particular, we consider preferences arising from non‐additive subjective probabilities and show how they can arise as induced preferences.

Suggested Citation

  • David Kelsey & Frank Milne, 1997. "Induced Preferences, Dynamic Consistency and Dutch Books," Economica, London School of Economics and Political Science, vol. 64(255), pages 471-481, August.
    • Handle: RePEc:bla:econom:v:64:y:1997:i:255:p:471-481
    DOI: 10.1111/1468-0335.00091
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1468-0335.00091
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1468-0335.00091?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:econom:v:64:y:1997:i:255:p:471-481. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/lsepsuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.