Similarity and Preferences in the Space of Simple Lotteries.

A. Rubinstein's similarity-relation approach to decision-making under uncertainty is extended.by introducing a new concept of correlated similarity relations. It is shown that every expected utility preference is consistent with the [epsilon]-difference similarity relation on the prize space and some correlated similarity relations on the probability space, and that a similarity relation on the prize space and correlated similarity relations on the probability space overdetermine the preference (in A. Rubinstein's sense). Coauthors are T. Ichiishi, J. Nieto, and J. R. Uriarte. Copyright 1993 by Kluwer Academic Publishers