Representation of strongly independent preorders by vector-valued functions

We show that without assuming completeness or continuity, a strongly independent preorder on a possibly infinite dimensional convex set can always be given a vector-valued representation that naturally generalizes the standard expected utility representation. More precisely, it can be represented by a mixture-preserving function to a product of lexicographic function spaces.

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Year of publication:	2017-08-15
Authors:	McCarthy, David ; Mikkola, Kalle ; Thomas, Teruji

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Type of publication:	Book / Working Paper
Language:	English
Notes:	McCarthy, David and Mikkola, Kalle and Thomas, Teruji (2017): Representation of strongly independent preorders by vector-valued functions.
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	BASE

Persistent link: https://www.econbiz.de/10015257162