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Williams coherence and beyond
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DOI：10.1016/j.ijar.2008.10.002.png)
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In this paper we discuss the consistency concept of Williams coherence for imprecise conditional previsions, presenting a variant of this notion, which we call W-coherence. It is shown that W-coherence ensures important consistency properties and is quite general and well-grounded. This is done comparing it with alternative or anyway similar known and less known consistency definitions. The common root of these concepts is that they variously extend to imprecision the subjective probability approach championed by de Finetti. The analysis in the paper is also helpful in better clarifying several little investigated aspects of these notions. (C) 2008 Elsevier Inc. All rights reserved.
Keyword:
Conditional lower previsions
Williams coherence
Envelope theorem
Centered convex previsions
Conglomerability
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