Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/175874 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
Center for Mathematical Economics Working Papers No. 573
Verlag: 
Bielefeld University, Center for Mathematical Economics (IMW), Bielefeld
Zusammenfassung: 
This paper extends decision theory under imprecise probabilistic information to dynamic settings. We explore the relationship between the given objective probabilistic information, an agent's subjective multiple priors, and updating. Dynamic consistency implies rectangular sets of priors at the subjective level. As the objective probabilistic information need not be consistent with rectangularity at the subjective level, agents might select priors outside the objective probabilistic information while respecting the support of the given set of priors. Under suitable additional axioms, the subjective set of priors belongs to the rectangular hull of the objective probabilistic information.
Schlagwörter: 
Imprecise information
imprecision aversion
multiple priors
dynamic consistency
JEL: 
D81
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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