### Abstract

This paper proposes a class of independence axioms for simple acts. By introducing the (Formula presented.)-cominimum independence axiom that is stronger than the comonotonic independence axiom but weaker than the independence axiom, we provide a new axiomatization theorem of simple acts within the framework of Choquet expected utility. Furthermore, in order to provide the axiomatization of simple acts, we generalize Kajii et al. (J Math Econ 43:218–230, 2007) into an infinite state space. Our axiomatization theorem relates Choquet expected utility to multi-prior expected utility through the core of a capacity that is explicitly derived within our framework. Our result in this paper also derives Gilboa (Econometrica 57:1153–1169, 1989), Eichberger and Kelsey (Theory Decis 46:107–140, 1999), and Rohde (Soc Choice Welf 34:537–547, 2010) as a corollary.

Original language | English |
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Pages (from-to) | 117-139 |

Number of pages | 23 |

Journal | Theory and Decision |

Volume | 78 |

Issue number | 1 |

DOIs | |

Publication status | Published - Jan 1 2013 |

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### Keywords

- Choquet expected utility
- Cominimum additivity
- Cominimum independence
- Core
- E-capacity expected utility
- Multi-prior expected utility

### ASJC Scopus subject areas

- Decision Sciences(all)
- Developmental and Educational Psychology
- Arts and Humanities (miscellaneous)
- Applied Psychology
- Social Sciences(all)
- Economics, Econometrics and Finance(all)
- Computer Science Applications

### Cite this

*Theory and Decision*,

*78*(1), 117-139. https://doi.org/10.1007/s11238-013-9411-2