Atemporal dynamic consistency and expected utility theory (Q1176685)
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scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Atemporal dynamic consistency and expected utility theory |
scientific article |
Statements
Atemporal dynamic consistency and expected utility theory (English)
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25 June 1992
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It is shown that a preference relation defined on the set of conditional lotteries that satisfies consequentialism and the axiom of reduction of compound lotteries, satisfies the independence axiom of expected utility theory if and only if it satisfies dynamic consistency.
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compound lotteries
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independence axiom
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dynamic consistency
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