Monotone continuous multiple priors
Résumé
We show that the monotone continuity condition introduced by Arrow (1970) is the behavioral counterpart of countable additivity and weak compactness of the set of priors in a maxmin expected utility model. This generalizes Arrow's original result, who considered the special case of a singleton set of priors. Several other convenient technical properties of the set of priors, like non-atomicity, are studied and their behavioral counterparts are provided.
Domaines
Economies et finances
Origine :
Fichiers produits par l'(les) auteur(s)
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