### Abstract

In this paper, a new concept of probability (I-nonadditive probability), which is partially additive and partially nonadditive, is introduced. By using this concept of probability and the former results of Savage's and Schmeidler's, a model of expected utility with nonadditive probability is formulated.

Original language | English |
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Pages (from-to) | 451-473 |

Number of pages | 23 |

Journal | Journal of Mathematical Economics |

Volume | 23 |

Issue number | 5 |

DOIs | |

Publication status | Published - 1994 Sep |

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### Keywords

- Expected utility
- Nonadditive probability

### ASJC Scopus subject areas

- Economics and Econometrics
- Applied Mathematics