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The no-trade interval of Dow and Werlang : some clarifications
Chateauneuf, Alain; Ventura, Caroline - HAL - 2009
The aim of this paper is two-fold : first, to emphasize that the seminal result of Dow and Werlang [7] remains valid under weaker conditions, and this even if non-positive prices are considered, or equally that the no-trade interval result is robust when considering assets which can yield...
Persistent link: https://www.econbiz.de/10010738516
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The no-trade interval of Dow and Werlang : some clarifications.
Chateauneuf, Alain; Ventura, Caroline - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
The aim of this paper is two-fold : first, to emphasize that the seminal result of Dow and Werlang [9] remains valid under weaker conditions and this even if non-positive prices are considered, or equally that the no-trade interval result is robust when considering assets which can yield...
Persistent link: https://www.econbiz.de/10005797747
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The no-trade interval of Dow and Werlang : some clarifications.
Chateauneuf, Alain; Ventura, Caroline - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2009
The aim of this paper is two-fold : first, to emphasize that the seminal result of Dow and Werlang [7] remains valid under weaker conditions, and this even if non-positive prices are considered, or equally that the no-trade interval result is robust when considering assets which can yield...
Persistent link: https://www.econbiz.de/10008622057
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Diversification, convex preferences and non-empty core in the Choquet expected utility model
Tallon, Jean-Marc; Chateauneuf, Alain - In: Economic Theory 19 (2002) 3, pp. 509-523
equivalent to a concave utility index and a convex capacity. We then introduce a weaker notion of diversification, namely "sure … diversification." We show that this implies that the core of the capacity is non-empty. The converse holds under concavity of the …-Aumann setting, preference for diversification is equivalent to convexity of the capacity and preference for sure diversification is …
Persistent link: https://www.econbiz.de/10005370819
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Subjective ambiguity, expected utility and Choquet expected utility
Zhang, Jiankang - In: Economic Theory 20 (2002) 1, pp. 159-181
capacity is an inner measure. Two attractive features of the model are its specificity and the transparency of its axioms. The …
Persistent link: https://www.econbiz.de/10005371179
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Reexamination on updating Choquet beliefs
Horie, Mayumi - In: Journal of Mathematical Economics 49 (2013) 6, pp. 467-470
conditional preference relation represented by the Choquet expected utility with respect to the updated capacity through the rule …
Persistent link: https://www.econbiz.de/10011065374
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A simple axiomatization and constructive representation proof for choquet expected utility
Chateauneuf, Alain; Eichberger, Jürgen; Grant, Simon - In: Economic Theory 22 (2003) 4, pp. 907-915
Persistent link: https://www.econbiz.de/10005155403
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Least convex capacities
Epstein, Larry G.; Zhang, Jiankang - In: Economic Theory 13 (1999) 2, pp. 263-286
preference and is centered on the notion of a least convex capacity. …
Persistent link: https://www.econbiz.de/10005178754
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Reexamination on Updating Choquet Beliefs
Horie, Mayumi - Institute of Economic Research, Kyoto University - 2007
conditional preference relation represented by the Choquet expected utility with respect to the updated capacity through the rule …
Persistent link: https://www.econbiz.de/10005570220
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Reexamination on updating Choquet beliefs
Horie, Mayumi - In: Journal of mathematical economics 49 (2013) 6, pp. 467-470
Persistent link: https://www.econbiz.de/10010459971