CEU Preferences and Dynamic Consistency

This paper investigates the dynamic consistency of CEU preferences. A decision maker is faced with an information structure represented by a fixed filtration. If beliefs are represented by a convex capacity, we show that a necessary and sufficient condition for dynamic consistency is that beliefs be additive over the final stage in the filtration.

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Year of publication:	2004-11-24
Authors:	Grant, Simon ; Eichberger, Jürgen ; Kelsey, David
Institutions:	Sonderforschungsbereich 504 "Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung", Abteilung für Volkswirtschaftslehre ; Sonderforschungsbereich 504, University of Mannheim

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Extent:	application/pdf
Series:	Sonderforschungsbereich 504 Publications.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Research supported by ESRC grants no. R000222597 and RES-000-22-0650. We would like to The text is part of a series sfbmaa Number 04-47 15 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005592908