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This paper shows that, for CEU preferences, the axioms consquentialism, state independenceand conditional certainty equivalent consistency under updating characterise a family of capacities,called Genralised Neo-Additive Capacities (GNAC). This family contains as special casesamong others...
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In this paper, we consider a decision-maker who tries to learn the distribution ofoutcomes from previously observed … cases. For each observed sequence of casesthe decision-maker predicts a set of priors expressing his beliefs about the …
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the decision-maker's reaction to it. They study a general class of preferences which they refer to as invariant …
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decision making under uncertainty. For a clear comparison we will stay as close as possible to the framework of SEU suggested …-known paradoxa of decision theory. …
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