Let <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$\mathcal{X }$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mi mathvariant="script">X</mi> </math> </EquationSource> </InlineEquation> be a set of outcomes, and let <InlineEquation ID="IEq2"> <EquationSource Format="TEX">$$\mathcal{I }$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mi mathvariant="script">I</mi> </math> </EquationSource> </InlineEquation> be an infinite indexing set. This paper shows that any separable, permutation-invariant preference order <InlineEquation ID="IEq3"> <EquationSource Format="TEX">$$(\succcurlyeq )$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mrow> <mo stretchy="false">(</mo> <mo>≽</mo> <mo stretchy="false">)</mo> </mrow> </math> </EquationSource> </InlineEquation> on <InlineEquation ID="IEq4"> <EquationSource Format="TEX">$$\mathcal{X }^\mathcal{I }$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <msup> <mrow> <mi mathvariant="script">X</mi> </mrow> <mi mathvariant="script">I</mi> </msup> </math> </EquationSource> </InlineEquation> admits an additive...</equationsource></equationsource></inlineequation></equationsource></equationsource></inlineequation></equationsource></equationsource></inlineequation></equationsource></equationsource></inlineequation>

We provide possibility results on the aggregation of beliefs and tastes for Monotone, Bernoullian and Archimedian preferences of Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci, and Siniscalchi (2011). We propose a new axiom, Unambiguous Pareto Dominance, which requires that if the...

When the discount rate is uncertain, individuals whose preferences are consistent with discounted expected utility, exhibit diminishing impatience. This paper introduces and characterizes a variation of discounted expected utility in which the discount rate depends on the state of the nature...