DYNAMIC CONSISTENCY IMPLIES APPROXIMATELY EXPECTED UTILITY PREFERENCES
成果类型：
Article
署名作者：
BORDER, KC; SEGAL, U
署名单位：
University of Toronto
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1994.1038
发表日期：
1994
页码：
170-188
关键词：
摘要：
Machina has proposed a definition of dynamic consistency which admits non-expected utility functionals. We show that even under this new definition a dynamically consistent preference relation that is differentiable becomes arbitrarily close to an expected utility preference after the realization of a low probability event. (C) 1994 Academic Press, Inc.