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A theory of expected utility with nonadditive probability

Authors
Journal
Journal of Mathematical Economics
0304-4068
Publisher
Elsevier
Publication Date
Volume
23
Issue
5
Identifiers
DOI: 10.1016/0304-4068(94)90027-2
Keywords
  • Nonadditive Probability
  • Expected Utility

Abstract

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.

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