Kelsey, David; Milne, Frank - In: International Economic Review 40 (1999) 2, pp. 455-77
We study a decision maker who follows the Savage axioms. We show that if he or she is able to take unobservable actions that influence the probabilities of outcomes, then it can appear to an outsider as if his or her subjective probabilities are nonadditive. Implications for multiperiod decision...