Search Results - subject:"skew-symmetric bilinear utility"

Axiomatization of a Preference for Most Probable Winner

Blavatskyy, Pavlo - In: Theory and Decision 60 (2006) 1, pp. 17-33

) and one less standard axiom (a fanning-in). A preference for the most probable winner can be represented by a skew-symmetric … bilinear utility function. Such a utility function has the structure of a regret theory when lottery outcomes are perceived as …

Persistent link: https://www.econbiz.de/10005711002

Axiomatization of a Preference for Most Probable Winner

Blavatskyy, Pavlo R. - Institut für Volkswirtschaftslehre, …

In binary choice between discrete outcome lotteries, an individual may prefer lottery L1 to lottery L2 when the probability that L1 delivers a better outcome than L2 is higher than the probability that L2 delivers a better outcome than L1. Such a preference can be rationalized by three standard...

Persistent link: https://www.econbiz.de/10005585645