American Economic Journal:
Microeconomics
ISSN 1945-7669 (Print) | ISSN 1945-7685 (Online)
Partially Specified Probabilities: Decisions and Games
American Economic Journal: Microeconomics
vol. 4,
no. 1, February 2012
(pp. 70–100)
Abstract
The paper develops a theory of decision making based on partially specified probabilities. It takes an axiomatic approach using Anscombe and Aumann's (1963) setting, and is based on the concave integral for capacities. This theory is then expanded to interactive models in order to extend Nash equilibrium by introducing the concept of partially specified equilibrium. (JEL C70, D81, D83)Citation
Lehrer, Ehud. 2012. "Partially Specified Probabilities: Decisions and Games." American Economic Journal: Microeconomics, 4 (1): 70–100. DOI: 10.1257/mic.4.1.70JEL Classification
- C70 Game Theory and Bargaining Theory: General
- D81 Criteria for Decision-Making under Risk and Uncertainty
- D83 Search; Learning; Information and Knowledge; Communication; Belief
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