An interpretation of focal point responses as non-additive beliefs
This paper provides a novel interpretation of focal point responses (0, 50, 100 percent) in terms of ambiguous beliefs dynamics that arise in new developments of decision theory such as Choquet expected utility theory. In particular, focal point responses that have been updated from nonfocal respons...
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| Format: | Article |
| Language: | English |
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Cambridge University Press
2014-09-01
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| Series: | Judgment and Decision Making |
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| Online Access: | http://journal.sjdm.org/13/13522/jdm13522.pdf |