We introduce and study finitely well-positioned sets, a class of asymptotically “narrow” sets that generalize the well-positioned sets recently investigated by Adly, Ernst and Thera in [1] and [3], as well as the plastering property of Krasnoselskii.

We show that the monotone continuity condition introduced by Arrow (1970) is the behavioral counterpart of countable additivity and weak compactness of the set of priors in a maxmin expected utility model. This generalizes Arrow's original result, who considered the special case of a singleton...

We examine a variety of preference-based definitions of ambiguous events in the context of the smooth ambiguity model.  We first consider the definition proposed in Klibanoff, Marinacci, and Mukerji (2005) based on the classic Ellsberg two-urn paradox (Ellsberg (1961)), and show that it...

This is a survey of some of the recent decision-theoretic literature involving beliefs that cannot be quantified by a Bayesian prior. We discuss historical, philosophical, and axiomatic foundations of the Bayesian model, as well as of several alternative models recently proposed. The definition...

A finitely additive probability measure P defined on a class of subsets of a space is convex-ranged if, for all P(A)0 and all 0 < < 1, there exists a set, ∋ B⊆A, such that P(B)= P(A).<p>Our main result shows that, for any two probabilities P and Q, with P convex-ranged and Q countably additive, P=Q whenever there exists a set A∈ , with 0 P(A) 1,...</<>