An axiomatization of Choquet expected utility with cominimum independence

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• 作者：Takao Asano ; Hiroyuki Kojima
• 关键词：Cominimum additivity ; Cominimum independence ; Choquet expected utility ; Multi ; prior expected utility ; Core ; E ; capacity expected utility
• 刊名：Theory and Decision
• 出版年：2015
• 出版时间：January 2015
• 年：2015
• 卷：78
• 期：1
• 页码：117-139
• 全文大小：301 KB
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• 刊物类别：Business and Economics
• 刊物主题：Economics
  Economic Theory
  Game Theory and Mathematical Methods
  Game Theory, Economics, Social and Behavioral Sciences
  Methodology of the Social Sciences
  Operation Research and Decision Theory
  
• 出版者：Springer Netherlands
• ISSN：1573-7187

文摘

This paper proposes a class of independence axioms for simple acts. By introducing the \({\mathcal {E}}\) -cominimum independence axiom that is stronger than the comonotonic independence axiom but weaker than the independence axiom, we provide a new axiomatization theorem of simple acts within the framework of Choquet expected utility. Furthermore, in order to provide the axiomatization of simple acts, we generalize Kajii et al. (J Math Econ 43:218-30, 2007) into an infinite state space. Our axiomatization theorem relates Choquet expected utility to multi-prior expected utility through the core of a capacity that is explicitly derived within our framework. Our result in this paper also derives Gilboa (Econometrica 57:1153-169, 1989), Eichberger and Kelsey (Theory Decis 46:107-40, 1999), and Rohde (Soc Choice Welf 34:537-47, 2010) as a corollary.