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Persistent link: https://www.econbiz.de/10012236005
This paper presents a simple framework that allows us to survey and relate some different strands of the game theory literature. We describe a "canonical" way of adding incomplete information to a complete information game. This framework allows us to give a simple "complete theory"...
Persistent link: https://www.econbiz.de/10012236009
This paper shows that, for CEU preferences, the axioms consquentialism, state independenceand conditional certainty equivalent consistency under updating characterise a family of capacities,called Genralised Neo-Additive Capacities (GNAC). This family contains as special casesamong others...
Persistent link: https://www.econbiz.de/10005868377
The concept of a non-extreme-outcome-additive capacity (neo-additive capacity ) is introduced.Neo-additive capacitiesmodel optimistic and pessimistic attitudes towards uncertaintyas observed in many experimental studies. Moreover, neo-additive capacities canbe applied easily in economic...
Persistent link: https://www.econbiz.de/10005868474