Event Exchangeability: Probabilistic Sophistication without Continuity or Monotonicity

Building on the Ramsey-de Finetti idea of event exchangeability, we derive a characterization of probabilistic sophistication without requiring any of the various versions of monotonicity, continuity, or comparative likelihood assumptions imposed by Savage (1954), Machina and Schmeidler (1992), and...

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Bibliographische Detailangaben

Veröffentlicht in:	Econometrica. - Wiley. - 74(2006), 3, Seite 771-786
1. Verfasser:	Hong, Chew Soo (VerfasserIn)
Format:	Online-Aufsatz
Sprache:	English
Veröffentlicht:	2006
Zugriff auf das übergeordnete Werk:	Econometrica
Schlagworte:	Uncertainty Risk Ambiguity Decision Theory Nonexpected Utility Probabilistic Sophistication Physical sciences Business Social sciences Economics mehr... Philosophy Behavioral sciences Mathematics Linguistics