Abstract
By proposing the notions of upper-constrained dynamic consistency and lower-constrained dynamic consistency that are weaker axioms than dynamic consistency, this paper axiomatizes the Dempster–Shafer updating rule and naive Bayes’ updating rule within the framework of Choquet expected utility. Based on the notion of conditional comonotonicity, this paper also provides an axiomatization of consequentialism under Choquet expected utility. Furthermore, based on the idea of the mean-preserving rule, this paper provides a unified approach for distinguishing capacity updating rules (the Dempster–Shafer updating rule, naive Bayes’ updating rule, and Fagin–Halpern updating rule) according to the degree of dynamic consistency.
| Original language | English |
|---|---|
| Pages (from-to) | 1-28 |
| Number of pages | 28 |
| Journal | Economic Theory |
| DOIs | |
| Publication status | Accepted/In press - Apr 23 2018 |
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Keywords
- Choquet expected utility
- Conditional comonotonicity
- Conditional preferences
- Consequentialism
- Dempster–Shafer updating rule
- Dynamic consistency
- Fagin–Halpern updating rule
- Naive Bayes’ updating rule
ASJC Scopus subject areas
- Economics and Econometrics
Cite this
Consequentialism and dynamic consistency in updating ambiguous beliefs. / Asano, Takao; Kojima, Hiroyuki.
In: Economic Theory, 23.04.2018, p. 1-28.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Consequentialism and dynamic consistency in updating ambiguous beliefs
AU - Asano, Takao
AU - Kojima, Hiroyuki
PY - 2018/4/23
Y1 - 2018/4/23
N2 - By proposing the notions of upper-constrained dynamic consistency and lower-constrained dynamic consistency that are weaker axioms than dynamic consistency, this paper axiomatizes the Dempster–Shafer updating rule and naive Bayes’ updating rule within the framework of Choquet expected utility. Based on the notion of conditional comonotonicity, this paper also provides an axiomatization of consequentialism under Choquet expected utility. Furthermore, based on the idea of the mean-preserving rule, this paper provides a unified approach for distinguishing capacity updating rules (the Dempster–Shafer updating rule, naive Bayes’ updating rule, and Fagin–Halpern updating rule) according to the degree of dynamic consistency.
AB - By proposing the notions of upper-constrained dynamic consistency and lower-constrained dynamic consistency that are weaker axioms than dynamic consistency, this paper axiomatizes the Dempster–Shafer updating rule and naive Bayes’ updating rule within the framework of Choquet expected utility. Based on the notion of conditional comonotonicity, this paper also provides an axiomatization of consequentialism under Choquet expected utility. Furthermore, based on the idea of the mean-preserving rule, this paper provides a unified approach for distinguishing capacity updating rules (the Dempster–Shafer updating rule, naive Bayes’ updating rule, and Fagin–Halpern updating rule) according to the degree of dynamic consistency.
KW - Choquet expected utility
KW - Conditional comonotonicity
KW - Conditional preferences
KW - Consequentialism
KW - Dempster–Shafer updating rule
KW - Dynamic consistency
KW - Fagin–Halpern updating rule
KW - Naive Bayes’ updating rule
UR - http://www.scopus.com/inward/record.url?scp=85045842082&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85045842082&partnerID=8YFLogxK
U2 - 10.1007/s00199-018-1121-0
DO - 10.1007/s00199-018-1121-0
M3 - Article
SP - 1
EP - 28
JO - Economic Theory
JF - Economic Theory
SN - 0938-2259
ER -