This paper presents a new axiomatic characterization of risk measures that are additive for independent random variables. In contrast to previous work, we include an axiom that guarantees monotonicity of the risk measure. Furthermore, the axiom of additivity for independent random variables is related to an axiom of additivity for comonotonic random variables. The risk measure characterized can...

We address the questions (1) how moral decision-making can be formally modeled using established decision models and (2) which of these models are the most accurate in predicting moral judgments. We conducted an experiment with a comparison task in which people had to decide which of two companies behaved more fairly in dealing with the consequences of the current financial crisis. We modeled t...

Partially specified probabilities induce coherent risk measures of a special kind. These measures are axiomatized using the four axioms that characterize coherent risk measures and an additional one, which requires that the risk measure be additive on the set of efficient portfolios. Journal of Economic Literature classification numbers: C61, C72, D81, D82, D83

The Filter Dichotomy says that every uniform nonmeager filter on the integers is mapped by a finite-to-one function to an ultrafilter. The consistency of this principle was proved by Blass and Laflamme. A medial limit is a universally measurable function from P(ω) to the unit interval [0, 1] which is finitely additive for disjoint sets, and maps singletons to 0 and ω to 1. Christensen and Mokob...

This paper proposes a new probabilistic non-extensive entropy feature for texture characterization, based on a Gaussian information measure. The highlights of the new entropy are that it is bounded by finite limits and that it is non additive in nature. The non additive property of the proposed entropy makes it useful for the representation of information content in the non-extensive systems co...

This paper explains the empirical phenomenon of persistent “fifty-fifty”probability judgments through a model of Bayesian updating under ambiguity. To this purpose I characterize an announced probability judgment as a Bayesian estimate given as the solution to a Choquet expected utility maximization problem with respect to a neo-additive capacity that has been updated in accordance with the Gen...

to study general and specific combining ability of some rice varieties for grain physical properties and milling quality, a diallel design with five parents (hashemi, vandana, kadous, shahpasand and ir36) was used. parents and their f1 progenies (25 genotypes) were grown in a randomized complete blocks design with three replications in the research field of rice research institute of iran (rrii...

Let L be a linear space of real bounded random variables on the probability space (Ω,A, P0). A finitely additive probability P on A such that P ∼ P0 and EP (X) = 0 for each X ∈ L is called EMFA (equivalent martingale finitely additive probability). In this note, EMFA’s are investigated in case P0 is atomic. Existence of EMFA’s is characterized and various examples are given. Given y ∈ R and a b...