Continuity and completeness under risk
Suppose some non-degenerate preferences R, with strict part P, over risky outcomes satisfy Independence. Then, when they satisfy any two of the following axioms, they satisfy the third. Herstein-Milnor: for all lotteries p,q,r, the set of a's for which ap+(1-a)qRr is closed. Archimedean: for all p,q,r there exists a>0 such that if pPq, then ap+(1-a)rPq. Complete: for all p,q, either pRq or qRp.
Year of publication: |
2011
|
---|---|
Authors: | Dubra, Juan |
Published in: |
Mathematical Social Sciences. - Elsevier, ISSN 0165-4896. - Vol. 61.2011, 1, p. 80-81
|
Publisher: |
Elsevier |
Keywords: | Incomplete preferences Independence axiom Archimedean property |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Does the Better-Than-Average Effect Show That People Are Overconfident?: An Experiment.
Benoît, Jean-Pierre, (2009)
-
Di Tella, Rafael, (2008)
-
Benoît, Jean-Pierre, (2006)
- More ...