Journal Articles Theory and Decision Year : 2016

Choquet expected utility with affine capacities

Abstract

This paper studies decisions under ambiguity when attention is paid to extreme outcomes. In a purely subjective framework, we propose an axiomatic characterization of affine capacities, which are Choquet capacities consisting in an affine transformation of a subjective probability. Our main axiom restricts the well-known Savage’s Sure-Thing Principle to a change in a common intermediate outcome. The representation result is then an affine combination of the expected utility of the valued act and its maximal and minimal utilities.
No file

Dates and versions

halshs-01250975 , version 1 (05-01-2016)

Identifiers

Cite

Pascal Toquebeuf. Choquet expected utility with affine capacities. Theory and Decision, 2016, 81 (2), pp.177-187. ⟨10.1007/s11238-015-9529-5⟩. ⟨halshs-01250975⟩
119 View
0 Download

Altmetric

Share

More