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Title: Consequentialism and Dynamic Consistency in Updating Ambiguous Beliefs
Authors: Asano, Takao
Kojima, Hiroyuki
Keywords: Dynamic Consistency
Choquet Expected Utility
Conditional Comonotonicity
Conditional Preferences
Dempster-Shafer Updating Rule
Naive Bayes' Updating Rule
Fagin-Halpern Updating Rule
Issue Date: 14-Mar-2018
Publisher: Institute of Economic Research, Kyoto University
Journal title: KIER Discussion Paper
Volume: 987
Start page: 1
End page: 33
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.
Appears in Collections:KIER Discussion Paper (English)

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