caa a22 4500 605475512 CHVBK 20210128100352.0 cr unu---uuuuu 210128e20151001xx s 000 0 eng 10.1007/s00199-015-0871-1 doi (NATIONALLICENCE)springer-10.1007/s00199-015-0871-1 Webb Craig Economics, School of Social Sciences, The University of Manchester, Oxford Road, M13 9PL, Manchester, UK aut Piecewise additivity for non-expected utility [Elektronische Daten] [Craig Webb] A model of choice under purely subjective uncertainty, Piecewise Additive Choquet Expected utility, is introduced. PACE utility allows for optimism and pessimism simultaneously, but represents a minimal departure from expected utility. It can be seen as a continuous version of NEO-expected utility (Chateauneuf et al. in J Econ Theory 137:538-567, 2007) and, as such, is especially suited for applications with rich state spaces. The main theorem provides a preference foundation for PACE utility in the Savage framework of purely subjective uncertainty with an arbitrary outcome set. Springer-Verlag Berlin Heidelberg, 2015 Optimism nationallicence Pessimism nationallicence Inverse-S nationallicence Choquet expected utility nationallicence NEO-additive capacities nationallicence Probabilistic sophistication nationallicence Economic Theory Springer Berlin Heidelberg 60/2(2015-10-01), 371-392 0938-2259 60:2<371 2015 60 199 https://doi.org/10.1007/s00199-015-0871-1 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s00199-015-0871-1 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Webb Craig Economics, School of Social Sciences, The University of Manchester, Oxford Road, M13 9PL, Manchester, UK aut NATIONALLICENCE 773 0- Economic Theory Springer Berlin Heidelberg 60/2(2015-10-01), 371-392 0938-2259 60:2<371 2015 60 199