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A theory of quantifiable beliefs

Grant, Simon; Karni, Edi


Building upon the works of Anscombe and Amuann [Ann. Math. Stat. 34 (1963) 199] and Karni and Schmeidler [An expected utility theory for state-dependent preferences. Working Paper 48-80, Foerder Institute for Economic Research, Tel Aviv University], we develop a general axiomatic theory of quantifiable beliefs—a form of probabilistic sophistication that does not preclude state-dependent preferences and does not require the reduction of compound lotteries. The theory includes the state-dependent...[Show more]

CollectionsANU Research Publications
Date published: 2004
Type: Journal article
Source: Journal of Mathematical Economics
DOI: 10.1016/S0304-4068(03)00042-9


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