On the Representation of Incomplete Preferences over Risky Alternatives

Paola Manzini; Marco Mariotti

doi:10.1007/s11238-007-9086-7

On the Representation of Incomplete Preferences over Risky Alternatives

Paola Manzini, Marco Mariotti

Research output: Contribution to journal › Article › peer-review

10 Citations (Scopus)

Abstract

We study preferences over lotteries which do not necessarily satisfy completeness. We provide a characterization which generalizes Expected Utility theory. We show in particular that various sure-thing axioms are needed to guaranteee the representability in terms of utility intervals rather than numbers, and to provide a linear interval order representation which is very much in the spirit of Expected Utility theory.

Original language	English
Pages (from-to)	303-323
Number of pages	21
Journal	Theory and Decision
Volume	65
Issue number	4
DOIs	https://doi.org/10.1007/s11238-007-9086-7
Publication status	Published - Dec 2008

Keywords

incomplete preference relations
interval orders
partial orders
COMPLETENESS AXIOM
UTILITY-THEORY
CHOICE

Access to Document

10.1007/s11238-007-9086-7

Cite this

@article{2a4c9728385a4e07a2dc6964e481bfa3,

title = "On the Representation of Incomplete Preferences over Risky Alternatives",

abstract = "We study preferences over lotteries which do not necessarily satisfy completeness. We provide a characterization which generalizes Expected Utility theory. We show in particular that various sure-thing axioms are needed to guaranteee the representability in terms of utility intervals rather than numbers, and to provide a linear interval order representation which is very much in the spirit of Expected Utility theory.",

keywords = "incomplete preference relations, interval orders, partial orders, COMPLETENESS AXIOM, UTILITY-THEORY, CHOICE",

author = "Paola Manzini and Marco Mariotti",

year = "2008",

month = dec,

doi = "10.1007/s11238-007-9086-7",

language = "English",

volume = "65",

pages = "303--323",

journal = "Theory and Decision",

issn = "0040-5833",

publisher = "Springer",

number = "4",

}

TY - JOUR

T1 - On the Representation of Incomplete Preferences over Risky Alternatives

AU - Manzini, Paola

AU - Mariotti, Marco

PY - 2008/12

Y1 - 2008/12

N2 - We study preferences over lotteries which do not necessarily satisfy completeness. We provide a characterization which generalizes Expected Utility theory. We show in particular that various sure-thing axioms are needed to guaranteee the representability in terms of utility intervals rather than numbers, and to provide a linear interval order representation which is very much in the spirit of Expected Utility theory.

AB - We study preferences over lotteries which do not necessarily satisfy completeness. We provide a characterization which generalizes Expected Utility theory. We show in particular that various sure-thing axioms are needed to guaranteee the representability in terms of utility intervals rather than numbers, and to provide a linear interval order representation which is very much in the spirit of Expected Utility theory.

KW - incomplete preference relations

KW - interval orders

KW - partial orders

KW - COMPLETENESS AXIOM

KW - UTILITY-THEORY

KW - CHOICE

UR - http://www.scopus.com/inward/record.url?scp=54949092904&partnerID=8YFLogxK

U2 - 10.1007/s11238-007-9086-7

DO - 10.1007/s11238-007-9086-7

M3 - Article

SN - 0040-5833

VL - 65

SP - 303

EP - 323

JO - Theory and Decision

JF - Theory and Decision

IS - 4

ER -

On the Representation of Incomplete Preferences over Risky Alternatives

Abstract

Keywords

Access to Document

Other files and links

Fingerprint

Cite this