E-Capacities and the Ellsberg Paradox.

This paper introduces E-capacities as a representation of beliefs which incorporates objective information about the probability of events. It can be shown that the Choquet integral of an E-capacity is the Ellsberg representation. The paper further explores properties of this representation of beliefs and provides an axiomatisation for them.

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Year of publication:	1996
Authors:	Eichberger, J. ; Kelsey, D.
Institutions:	Department of Economics, University of Birmingham
Subject:	GAMES \| GAME THEORY \| UNCERTAINTY \| RISK

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Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	31 pages
Classification:	C70 - Game Theory and Bargaining Theory. General ; C72 - Noncooperative Games ; D80 - Information and Uncertainty. General ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005357547