concerning behaviour in decision trees. Following Cubitt (1996), these principles include dynamic consistency, separability, and …

It is commonly argued that dynamic consistency, consequentialism and non-expected utility are incompatible. The first … contingencies that the decision maker envisages, and we argue that any reasonable notion of dynamic consistency involves the latter …, rather than the former, sort of contingency. We formulate such a version of dynamic consistency and show it to be compatible …