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Updating Choquet valuation and discounting information arrivals

Lapied, André; Kast, Robert - HAL - 2009

We explore different possible definitions for conditional Choquet integrals and their implications for updating capacities. Many recent works consider relaxing dynamic consistency within Choquet Expected Utility models, but all of them deal with models where time is not explicitly introduced. We...

Persistent link: https://www.econbiz.de/10008794137

Attitude toward information and learning under multiple priors

Kast, Robert; Lapied, André; Toquebeuf, Pascal - HAL - 2009

This paper studies learning under multiple priors by characterizing the decision maker's attitude toward information … pessimism to a dynamic set-up. A pessimistic (max-min expected utility) decision maker will be credulous when learning bad news … but incredulous when learning good news.Conversely, an optimistic (max-max expected utility) decision maker will be …

Persistent link: https://www.econbiz.de/10008794281

How important is innovation? A Bayesian factor-augmented productivity model on panel data

Bresson, Georges; Etienne, Jean-Michel; Mohnen, Pierre - HAL - 2011

This paper proposes a Bayesian approach to estimate a factor augmented productivity equation. We exploit the panel dimension of our data and distinguish individual-specic and time-specic factors. On the basis of 14 technology and infrastructure indicators from 37 countries over a 10-year...

Persistent link: https://www.econbiz.de/10010899343