Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/127210
Authors: 
Chateauneuf, Alain
Eichberger, Jürgen
Grant, Simon
Year of Publication: 
2003
Series/Report no.: 
Discussion Paper Series, University of Heidelberg, Department of Economics 393
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

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