Abstract
In this paper, a new concept of probability (I-nonadditive probability), which is partially additive and partially nonadditive, is introduced. By using this concept of probability and the former results of Savage's and Schmeidler's, a model of expected utility with nonadditive probability is formulated.
| Original language | English |
|---|---|
| Pages (from-to) | 451-473 |
| Number of pages | 23 |
| Journal | Journal of Mathematical Economics |
| Volume | 23 |
| Issue number | 5 |
| DOIs | |
| Publication status | Published - 1994 Sept |
| Externally published | Yes |
Keywords
- Expected utility
- Nonadditive probability
ASJC Scopus subject areas
- Economics and Econometrics
- Applied Mathematics