Characterization of time-consistent sets of measures in finite trees

In this paper we give an alternative characterization for time-consistent sets of measures in a discrete setting. For each measure P in a time-consistent set Ρ we get a distinct set of predictable processes which in return decribe the P uniquely. This implies we get a one-to-one correspondence between time-consistent sets of measures and sets of predictable processes with specific features.

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Year of publication:	2010
Authors:	Bier, Monika
Publisher:	Bielefeld : Bielefeld University, Institute of Mathematical Economics (IMW)
Subject:	Entscheidung bei Unsicherheit \| Risikoaversion \| Erwartungsnutzen \| Zeitkonsistenz \| Theorie \| Multiple Priors \| Time-Consistency \| Ambiguity \| Uncertainty Aversion

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Series:	Working Papers ; 434
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	630631875 [GVK] hdl:10419/43810 [Handle]
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	EconStor

Persistent link: https://www.econbiz.de/10010272594