Consequentialism and Dynamic Consistency in Updating Ambiguous Beliefs
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Wang, Tan, 2003. "Conditional preferences and updating," Journal of Economic Theory, Elsevier, vol. 108(2), pages 286-321, February.
- , & ,, 2007. "Updating preferences with multiple priors," Theoretical Economics, Econometric Society, vol. 2(3), September.
- Gilboa Itzhak & Schmeidler David, 1993.
"Updating Ambiguous Beliefs,"
Journal of Economic Theory, Elsevier, vol. 59(1), pages 33-49, February.
- Itzhak Gilboa & David Schmeidler, 1991. "Updating Ambiguous Beliefs," Discussion Papers 924, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Itzhak Gilboa & David Scheidler, 1993. "Updating Ambiguous Beliefs," Post-Print hal-00753150, HAL.
- Machina, Mark J, 1989. "Dynamic Consistency and Non-expected Utility Models of Choice under Uncertainty," Journal of Economic Literature, American Economic Association, vol. 27(4), pages 1622-1668, December.
- Hammond, Peter J, 1989. "Consistent Plans, Consequentialism, and Expected Utility," Econometrica, Econometric Society, vol. 57(6), pages 1445-1449, November.
- repec:dau:papers:123456789/7323 is not listed on IDEAS
- Cesaltina Pacheco Pires, 2002. "A Rule For Updating Ambiguous Beliefs," Theory and Decision, Springer, vol. 53(2), pages 137-152, September.
- Gilboa, Itzhak & Schmeidler, David, 1989.
"Maxmin expected utility with non-unique prior,"
Journal of Mathematical Economics, Elsevier, vol. 18(2), pages 141-153, April.
- Gilboa, Itzhak & Schmeidler, David, 1986. "Maxmin Expected Utility with a Non-Unique Prior," Foerder Institute for Economic Research Working Papers 275405, Tel-Aviv University > Foerder Institute for Economic Research.
- Itzhak Gilboa & David Schmeidler, 1989. "Maxmin Expected Utility with Non-Unique Prior," Post-Print hal-00753237, HAL.
- Adam Dominiak & Jean-Philippe Lefort, 2011.
"Unambiguous events and dynamic Choquet preferences,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(3), pages 401-425, April.
- Dominiak, Adam & Lefort, Jean-Philippe, 2009. "Unambiguous Events and Dynamic Choquet Preferences," Working Papers 0489, University of Heidelberg, Department of Economics.
- Gilboa,Itzhak, 2009.
"Theory of Decision under Uncertainty,"
Cambridge Books,
Cambridge University Press, number 9780521517324.
- Gilboa,Itzhak, 2009. "Theory of Decision under Uncertainty," Cambridge Books, Cambridge University Press, number 9780521741231.
- Sarin, Rakesh & Wakker, Peter P, 1998. "Dynamic Choice and NonExpected Utility," Journal of Risk and Uncertainty, Springer, vol. 17(2), pages 87-119, November.
- Daniel Ellsberg, 1961. "Risk, Ambiguity, and the Savage Axioms," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 75(4), pages 643-669.
- Mohammed Abdellaoui & John D. Hey (ed.), 2008. "Advances in Decision Making Under Risk and Uncertainty," Theory and Decision Library C, Springer, number 978-3-540-68437-4, December.
- Horie, Mayumi, 2013. "Reexamination on updating Choquet beliefs," Journal of Mathematical Economics, Elsevier, vol. 49(6), pages 467-470.
- Epstein Larry G. & Le Breton Michel, 1993. "Dynamically Consistent Beliefs Must Be Bayesian," Journal of Economic Theory, Elsevier, vol. 61(1), pages 1-22, October.
- Hanany Eran & Klibanoff Peter, 2009. "Updating Ambiguity Averse Preferences," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 9(1), pages 1-53, November.
- Schmeidler, David, 1989.
"Subjective Probability and Expected Utility without Additivity,"
Econometrica, Econometric Society, vol. 57(3), pages 571-587, May.
- David Schmeidler, 1989. "Subjective Probability and Expected Utility without Additivity," Levine's Working Paper Archive 7662, David K. Levine.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Takao Asano & Hiroyuki Kojima, 2019. "Consequentialism and dynamic consistency in updating ambiguous beliefs," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 68(1), pages 223-250, July.
- Spyros Galanis, 2021.
"Dynamic consistency, valuable information and subjective beliefs,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(4), pages 1467-1497, June.
- Galanis, S., 2019. "Dynamic Consistency, Valuable Information and Subjective Beliefs," Working Papers 19/02, Department of Economics, City University London.
- Faro, José Heleno & Lefort, Jean-Philippe, 2019.
"Dynamic objective and subjective rationality,"
Theoretical Economics, Econometric Society, vol. 14(1), January.
- Faro, José Heleno & Lefort, Jean Philippe, 2013. "Dynamic Objective and Subjective Rationality," Insper Working Papers wpe_312, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
- Dominiak, Adam & Duersch, Peter & Lefort, Jean-Philippe, 2012.
"A dynamic Ellsberg urn experiment,"
Games and Economic Behavior, Elsevier, vol. 75(2), pages 625-638.
- Dominiak, Adam & Dürsch, Peter & Lefort, Jean-Philippe, 2009. "A Dynamic Ellsberg Urn Experiment," Working Papers 0487, University of Heidelberg, Department of Economics.
- Gumen, Anna & Savochkin, Andrei, 2013.
"Dynamically stable preferences,"
Journal of Economic Theory, Elsevier, vol. 148(4), pages 1487-1508.
- Anna Gumena & Andrei Savochkin, 2012. "Dynamically Stable Preferences," Carlo Alberto Notebooks 263, Collegio Carlo Alberto.
- Bleichrodt, Han & Eichberger, Jürgen & Grant, Simon & Kelsey, David & Li, Chen, 2021.
"Testing dynamic consistency and consequentialism under ambiguity,"
European Economic Review, Elsevier, vol. 134(C).
- Han Bleichrodt & Jurgen Eichberger & Simon Grant & David Kelsey & Chen Li, 2020. "Testing Dynamic Consistency and Consequentialism under Ambiguity," Discussion Papers 2020-17, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Alexander Zimper, 2011.
"Do Bayesians Learn Their Way Out of Ambiguity?,"
Decision Analysis, INFORMS, vol. 8(4), pages 269-285, December.
- Alexander Zimper, 2011. "Do Bayesians learn their way out of ambiguity?," Working Papers 240, Economic Research Southern Africa.
- Han Bleichrodt & Jurgen Eichberger & Simon Grant & David Kelsey & Chen Li, 2018. "A Test of Dynamic Consistency and Consequentialism in the Presence of Ambiguity," Discussion Papers 1803, University of Exeter, Department of Economics.
- Georgalos, Konstantinos, 2021. "Dynamic decision making under ambiguity: An experimental investigation," Games and Economic Behavior, Elsevier, vol. 127(C), pages 28-46.
- Daniel Heyen, 2018. "Ambiguity aversion under maximum-likelihood updating," Theory and Decision, Springer, vol. 84(3), pages 373-386, May.
- Dominiak, Adam & Lefort, Jean-Philippe, 2015. "“Agreeing to disagree” type results under ambiguity," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 119-129.
- Heyen, Daniel, 2018. "Ambiguity aversion under maximum-likelihood updating," LSE Research Online Documents on Economics 80342, London School of Economics and Political Science, LSE Library.
- Lapied, André & Toquebeuf, Pascal, 2012. "Dynamically consistent CEU preferences on f-convex events," Mathematical Social Sciences, Elsevier, vol. 63(3), pages 252-256.
- André Lapied & Pascal Tocquebeuf, 2007.
"Consistent Dynamice Choice And Non-Expected Utility Preferences,"
Working Papers
halshs-00353880, HAL.
- André Lapied & Pascal Toquebeuf, 2009. "Consistent dynamic choice and non-expected utility preferences," Working Papers hal-00416214, HAL.
- repec:dau:papers:123456789/7333 is not listed on IDEAS
- Dominiak, Adam, 2013. "Iterated Choquet expectations: A possibility result," Economics Letters, Elsevier, vol. 120(2), pages 155-159.
- Azrieli, Yaron & Teper, Roee, 2011.
"Uncertainty aversion and equilibrium existence in games with incomplete information,"
Games and Economic Behavior, Elsevier, vol. 73(2), pages 310-317.
- Azrieli, Yaron & Teper, Roee, 2009. "Uncertainty aversion and equilibrium existence in games with incomplete information," MPRA Paper 17617, University Library of Munich, Germany.
- Hill, Brian, 2020. "Dynamic consistency and ambiguity: A reappraisal," Games and Economic Behavior, Elsevier, vol. 120(C), pages 289-310.
- José Heleno Faro & Ana Santos, 2023. "Updating variational (Bewley) preferences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(1), pages 207-228, January.
- Konstantinos Georgalos, 2019. "An experimental test of the predictive power of dynamic ambiguity models," Journal of Risk and Uncertainty, Springer, vol. 59(1), pages 51-83, August.
- repec:dau:papers:123456789/7357 is not listed on IDEAS
- Zimper, Alexander, 2012. "Asset pricing in a Lucas fruit-tree economy with the best and worst in mind," Journal of Economic Dynamics and Control, Elsevier, vol. 36(4), pages 610-628.
More about this item
Keywords
Dynamic Consistency; Consequentialism; Choquet Expected Utility; Conditional Comonotonicity; Conditional Preferences; Dempster-Shafer Updating Rule; Naive Bayes' Updating Rule; Fagin-Halpern Updating Rule;All these keywords.
JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-MIC-2019-01-14 (Microeconomics)
- NEP-UPT-2019-01-14 (Utility Models and Prospect Theory)
Statistics
Access and download statisticsCorrections
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:kyo:wpaper:987. 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.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Makoto Watanabe (email available below). General contact details of provider: https://edirc.repec.org/data/iekyojp.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.