Ghirardato, Paolo; Maccheroni, Fabio; Marinacci, Massimo; … - International Centre for Economic Research (ICER) - 2001
We provide a behavioral foundation to the notion of ‘mixture’ of acts, which is used to great advantage in he decision setting introduced by Anscombe and Aumann. Our construction allows one to formulate mixture-space axioms even in a fully sub-jective setting, without assuming the existence...