Continuity, completeness, betweenness and cone-monotonicity
A non-trivial, transitive and reflexive binary relation on the set of lotteries satisfying independence that also satisfies any two of the following three axioms satisfies the third: completeness, Archimedean and mixture continuity (Dubra, 2011). This paper generalizes Dubra’s result in two ways: First, by replacing independence with a weaker betweenness axiom. Second, by replacing independence with a weaker cone-monotonicity axiom. The latter is related to betweenness and, in the case in which outcomes correspond to real numbers, is implied by monotonicity with respect to first-order stochastic dominance.
Year of publication: |
2015
|
---|---|
Authors: | Karni, Edi ; Safra, Zvi |
Published in: |
Mathematical Social Sciences. - Elsevier, ISSN 0165-4896. - Vol. 74.2015, C, p. 68-72
|
Publisher: |
Elsevier |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Moral sentiments and social choice: Fairness considerations in university admissions
Karni, Edi, (2003)
-
Vickrey auctions in the theory of expected utility with rank-dependent probabilities
Karni, Edi, (1986)
-
Individual Sense of Justice: A Utility Representation
Karni, Edi, (2002)
- More ...