Chambers, Christopher P.; Hayashi, Takashi - In: Journal of Economic Theory 147 (2012) 5, pp. 1818-1849
main idea is that any method of ascribing welfare to an individual as a function of choice is subjective, and depends on … an individual welfare functional as a mapping from stochastic choice functions into weak orders. A stochastic choice … may also be incorporated into the model). We require that for any two alternatives x and y, if our individual welfare …