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

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

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10.1007/s11238-007-9086-7

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KW - partial orders

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KW - CHOICE

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On the Representation of Incomplete Preferences over Risky Alternatives

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Keywords

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