2004 Reports
The knob of the discord
For (S, Σ) a measurable space, let C1 and C2 and be convex, weak* closed sets of probability measures on Σ. We show that if C1 ∪ C2 satisfies the Lyapunov property, then there exists a set A ∈ Σ such that minμ1 ∈ C1 μ1(A) > maxμ2 ∈ C2 (A). We give applications to Maxmin Expected Utility and to the core of a lower probability.
Subjects
Files
- econ_0405_14.pdf application/pdf 387 KB Download File
More About This Work
- Academic Units
- Economics
- Publisher
- Department of Economics, Columbia University
- Series
- Department of Economics Discussion Papers, 0405-14
- Published Here
- March 25, 2011
Notes
December 2004