Imprecise probabilistic beliefs as a context for decision-making under ambiguity

A-Tier
Journal: Journal of Economic Theory
Year: 2009
Volume: 144
Issue: 3
Pages: 1054-1091

Score contribution per author:

4.022 = (α=2.01 / 1 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Coherent imprecise probabilistic beliefs are modeled as incomplete comparative likelihood relations admitting a multiple-prior representation. Under a structural assumption of Equidivisibility, we provide an axiomatization of such relations and show uniqueness of the representation. In the second part of the paper, we formulate a behaviorally general "Likelihood Compatibility" axiom relating preferences and probabilistic beliefs and characterize its implications for the class of "invariant biseparable" preferences that includes the MEU and CEU models among others.

Technical Details

RePEc Handle
repec:eee:jetheo:v:144:y:2009:i:3:p:1054-1091
Journal Field
Theory
Author Count
1
Added to Database
2026-01-26