@article{edcb772f40764f9abb6e4c811001b28b,
title = "Dynamically consistent updating of multiple prior beliefs - An algorithmic approach",
abstract = "This paper develops algorithms for dynamically consistent updating of ambiguous beliefs in the maxmin expected utility model of decision making under ambiguity. Dynamic consistency is the requirement that ex-ante contingent choices are respected by updated preferences. Such updating, in this context, implies dependence on the feasible set of payoff vectors available in the problem and/or on an ex-ante optimal act for the problem. Despite this complication, the algorithms are formulated concisely and are easy to implement, thus making dynamically consistent updating operational in the presence of ambiguity.",
keywords = "Ambiguity, Risk analysis, Uncertainty modeling, Updating beliefs, Utility theory",
author = "Eran Hanany and Peter Klibanoff and Erez Marom",
note = "Funding Information: We thank Yigal Gerchak, Tal Raviv, two anonymous referees, the area editor and Thierry Denoeux, the Editor-in-Chief, for helpful discussions and comments. This research was partially supported by Grant No. 2006264 from the United States-Israel Binational Science Foundation (BSF), Jerusalem, Israel. All responsibility for the contents of the paper lies solely with the authors.",
year = "2011",
month = nov,
doi = "10.1016/j.ijar.2011.06.010",
language = "אנגלית",
volume = "52",
pages = "1198--1214",
journal = "International Journal of Approximate Reasoning",
issn = "0888-613X",
publisher = "Elsevier Inc.",
number = "8",
}