Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/127301
Authors: 
Dominiak, Adam
Lefort, Jean-Philippe
Year of Publication: 
2009
Series/Report no.: 
Discussion Paper Series, University of Heidelberg, Department of Economics 489
Abstract: 
This paper explores the relationship between dynamic consistency and the 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 (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 the sense of Zhang (2002).
Subjects: 
Choquet expected utility
unambiguous events
filtration
updating
dynamic consistency
consequentialism
JEL: 
D81
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
329 kB





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