Dutch books: Avoiding strategic and dynamic complications, and a comonotonic extension

DOI10.1016/S0165-4896(01)00084-1zbMATH Open1023.91011OpenAlexW2131050218MaRDI QIDQ1867804FDOQ1867804

Authors: Enrico Diecidue, Peter P. Wakker 

Publication date: 2 April 2003

Published in: Mathematical Social Sciences (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/s0165-4896(01)00084-1

Recommendations

• Comonotonic book making and attitudes to uncertainty.
• Coherence without additivity.
• Coherent odds and subjective probability
• "Making Book Against Oneself," The Independence Axiom, and Nonlinear Utility Theory
• Subjective Probability and Expected Utility without Additivity

zbMATH Keywords

ambiguity aversionChoquet expected utilityordered vector spacecomonotonicbook makingdutch book

Mathematics Subject Classification ID

Individual preferences (91B08) Utility theory (91B16)

Cites Work

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• The Dual Theory of Choice under Risk
• De Finetti's coherence and statistical inference
• Risk, ambiguity and the Savage axioms
• Subjective Probability and Expected Utility without Additivity
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• Advances in prospect theory: cumulative representation of uncertainty
• Recent developments in modeling preferences: Uncertainty and ambiguity
• Parameter-Free Elicitation of Utility and Probability Weighting Functions
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• Integral Representation Without Additivity
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• Indeterminate probabilities on finite sets
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• Nonmonotonic Choquet integrals
• What determines the shape of the probability weighting function under uncertainty?
• Continuous linear representability of binary relations
• Discounted-Value Representations of Temporal Preferences
• A note on linear utility
• The role of aspiration level in risky choice: A comparison of cumulative prospect theory and SP/A theory
• HOW SETS OF COHERENT PROBABILITIES MAY SERVE AS MODELS FOR DEGREES OF INCOHERENCE
• Probabilistic insurance
• Money does not induce risk neutral behavior, but binary lotteries do even worse
• Options traders exhibit subadditive decision weights
• Coherent odds and subjective probability
• Arbitrage, rationality, and equilibrium

Cited In (23)

• Rawlsian maximin, Dutch books, and non-additive expected utility
• Investment behavior under ambiguity: the case of pessimistic decision makers
• Belief and probability: a general theory of probability cores
• A simple model of cumulative prospect theory
• Dutch book rationality conditions for conditional preferences under ambiguity
• Eliciting decision weights by adapting de Finetti's betting-odds method to prospect theory
• The extent of partially resolving uncertainty in assessing coherent conditional plausibilities
• On linear aggregation of infinitely many finitely additive probability measures
• Survival risks, intertemporal consumption, and insurance: the case of distorted probabilities
• Incomplete preferences on conditional random quantities: representability by conditional previsions
• Valuing future cash flows with non separable discount factors and non additive subjective measures: conditional Choquet capacities on time and on uncertainty
• Deriving Harsanyi's utilitarianism from de Finetti's book-making argument
• Models for pessimistic or optimistic decisions under different uncertain scenarios
• Information processing under imprecise risk with an insurance demand illustration
• Reconciling support theory and the book-making principle
• Comparative expectations
• Comonotonic book making and attitudes to uncertainty.
• Dutch Books Arguments and Learning in a Nonexpected Utility Framework
• Coherent odds and subjective probability
• Dutch book in simple multivariate normal prediction: Another look
• Preferences representable by a lower expectation: Some characterizations
• Coherence without additivity.
• On some aspects of decision theory under uncertainty: rationality, price-probabilities and the Dutch book argument

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