Format:
25
ISSN:
1432-0479
Content:
This paper explores the relationship between dynamic consistency and existing notions of unambiguous events for Choquet expected utility preferences. A decision maker is faced with an information structure represented by a filtration. We show that the decision maker’s preferences respect dynamic consistency on a fixed filtration if and only if the last stage of the filtration is composed of unambiguous events in the sense of Nehring (Math Social Sci 38:197-213, 1999). Adopting two axioms, conditional certainty equivalence consistency and constrained dynamic consistency to filtration measurable acts, it is shown that the decision maker respects these two axioms on a fixed filtration if and only if the last stage of the filtration is made up of unambiguous events in the sense of Zhang (Econ Theory 20:159-181, 2002).
Note:
Published: 20 December 2009
,
Gesehen am 20.06.2022
In:
Economic theory, Berlin : Springer, 1991, 46(2011), 3, Seite 401-425, 1432-0479
In:
volume:46
In:
year:2011
In:
number:3
In:
pages:401-425
In:
extent:25
Language:
English
DOI:
10.1007/s00199-009-0512-7
URL:
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