Probabilistic evaluations: A universal representation for preferences over countable sets

We assign a probabilistic evaluation to a firm as a measure, in the form of a probability distribution over [0,1], of the quality of the firm’s products. When two firms compete to develop a new product, a prospective investor can use the two evaluations to determine which firm is likely to produce a better product. Probabilistic evaluations are shown to generate all binary relations on countable sets.

MoreLess

Year of publication:	2015
Authors:	Knoblauch, Vicki
Published in:	Journal of Mathematical Economics. - Elsevier, ISSN 0304-4068. - Vol. 57.2015, C, p. 25-27
Publisher:	Elsevier
Subject:	Binary relation \| Preference representation

More details

Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011264624