THE ITERATIVE LAW OF EXPECTATION AND NONADDITIVE PROBABILITY MEASURE

被引：12
|
作者：
YOO, KR
机构：
[1] Kellogg Graduate School of Management, Northwestern University, Evanston
来源：
ECONOMICS LETTERS | 1991年 / 37卷 / 02期
关键词：
D O I：
10.1016/0165-1765(91)90123-3
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
I show in this paper that the iterative law of expectation holds if and only if a probability measure is additive. This indicates that a market price of an uncertain asset may not reflect the market's information about the asset. © 1991.
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页码：145 / 149
页数：5
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