Lapied, André; Toquebeuf, Pascal - In: Economics Bulletin 30 (2010) 2, pp. 1661-1669
This note studies conditions which allow to maintain a non-expected utility representation (Max-min expected utility … and Choquet expected utility), dynamic consistency and consequentialism in an atemporal and purely subjective framework …. By contrast with a dynamic set-up, where consistency can be reached with non-expected utility models, we show that both …