Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/127210 
Year of Publication: 
2003
Series/Report no.: 
Discussion Paper Series No. 393
Publisher: 
University of Heidelberg, Department of Economics, Heidelberg
Abstract: 
The concept of a non-extreme-outcome-additive capacity (neo-additive capacity ) is introduced. Neo-additive capacities model optimistic and pessimistic attitudes towards uncertainty as observed in many experimental studies. Moreover, neo-additive capacities can be applied easily in economic problems, aswe demonstrate by examples. This paper provides an axiomatisation of Choquet expected utility with neo-capacities in a framework of purely subjective uncertainty.
Subjects: 
optimism
pessimism
Choquet expected utility
portfolio choice
JEL: 
D81
Document Type: 
Working Paper

Files in This Item:
File
Size
387.06 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.