Stochastic Independence under Knightian Uncertainty

被引：1

作者：

Pejsachowicz, Leonardo ^{[1
]}

机构：

[1] Ecole Polytech, Dept Econ, Route Saclay, F-91128 Palaiseau, France

来源：

REVUE D ECONOMIE POLITIQUE | 2016年 / 126卷 / 03期

关键词：

Bewley preferences; stochastic independence; product equivalents; EQUILIBRIUM; BELIEFS; UTILITY;

D O I：

10.3917/redp.263.0379

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We show that under Bewley preferences, the axion that usually characterizes stochastic independence is not sufficient to uniquely identify a model of independent beliefs. We thus introduce the concept of product equivalent of an act and show that it allows us to obtain a unique characterization of stochastic independence for the Bewley and multiple-priors expected utility models.

引用

页码：379 / 398

页数：20

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