Unambiguous Events and Dynamic Choquet Preferences

This paper explores the relationship between dynamic consistency and theexisting notions of unambiguous events for Choquet expected utility preferences.A decision maker is faced with an information structure represented bya filtration. We show that the decision maker’s preferences respect dynamicconsistency on a fixed filtration if and only if the last stage of the filtrationis composed of unambiguous events in the sense of Nehring (1999). Adoptingtwo axioms, conditional certainty equivalence consistency and constrained dynamicconsistency to filtration measurable acts, it is shown that the decisionmaker respects these two axioms on a fixed filtration if and only if the laststage of the filtration is made up of unambiguous events the sense of Zhang(2002).[...]