A note on recursive multiple-priors

One of the assumptions of recursive multiple-priors utility (Epstein and Schneider, J. Econ. Theory, 113(1) (2003), 1-31) is that conditional preferences at every node satisfy an intertemporal version of the multiple-priors axioms (Gilboa and Schmeidler, J. Math. Econ., 18(2) (1989) 141-153). This note weakens this assumption: Given that conditional preferences depend only on the continuations of acts and satisfy dynamic consistency and completeness, the recursive multiple-priors utility is derived if we assume the multiple-priors axioms for ex-ante preferences alone. Journal of Economic Literature Classification Numbers: D80, D81