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...
Veröffentlicht in: | Econometrica. - Wiley. - 74(2006), 3, Seite 771-786 |
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Format: | Online-Aufsatz |
Sprache: | English |
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2006
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Zugriff auf das übergeordnete Werk: | Econometrica |
Schlagworte: | Uncertainty Risk Ambiguity Decision Theory Nonexpected Utility Probabilistic Sophistication Physical sciences Business Social sciences Economics mehr... |
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