Marinacci, Massimo; Maccheroni, Fabio; Chateauneuf, Alain; … - International Centre for Economic Research (ICER) - 2003
We show that the monotone continuity condition introduced by Villegas (1964) and Arrow (1970) is the behavioral counterpart of countable additivity (and relative weak compactness) in a multiple priors model. This generalizes their original result, in which the special case of a singleton set of...