Updating non-additive probabilities-- a geometric approach
A geometric approach, analogous to the approach used in the additive case, is proposed to determine the conditional expectation with non- additive probabilities. The conditional expectation is then applied for (i) updating the probability when new information becomes available; and (ii) defining the notion of independence of non-additive probabilities and Nash equilibrium.
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References listed on IDEAS
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- Itzhak Gilboa & Ehud Lehrer, 1989.
"The Value of Information -- An Axiomatic Approach,"
835, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Itzhak Gilboa & David Schmeidler, 1991.
"Updating Ambiguous Beliefs,"
924, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Sarin, Rakesh & Wakker, Peter P, 1998. "Revealed Likelihood and Knightian Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 16(3), pages 223-50, July-Aug..
- Chateauneuf, Alain & Jaffray, Jean-Yves, 1989. "Some characterizations of lower probabilities and other monotone capacities through the use of Mobius inversion," Mathematical Social Sciences, Elsevier, vol. 17(3), pages 263-283, June.
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