Subjective Probability and Expected Utility without Additivity

An act maps states of nature to outcomes; deterministic outcomes as well as random outcomes are included. Two acts f and g are comonotonic, by definition, if it never happens that f(s)>f(t) and g(t)>g(s) for some states of nature s and t. An axiom of comonotonic independence is introduced here...

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Veröffentlicht in:	Econometrica 1989-05, Vol.57 (3), p.571-587
1. Verfasser:	Schmeidler, David
Format:	Artikel
Sprache:	eng
Schlagworte:	Applied sciences Axioms Betting Decision theory Decision theory. Utility theory Econometrics Economic theory Economic uncertainty Exact sciences and technology Expected utility Linear transformations Lotteries Mathematical functions Operational research and scientific management Operational research. Management science Preferences Probability Probability distribution Random variables Risk aversion Roulette
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