A correspondence theorem between expected utility and smooth utility

DOI10.1016/0022-0531(88)90159-7MaRDI QIDQ1107403zbMATH OpenOpenAlexFDO

Authors Soo Hong Chew, Larry G. Epstein, Itzhak Zilcha

Publication date 1988

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://ageconsearch.umn.edu/record/275398/files/TEL-AVIV-FSWP-078.pdf

zbMATH Keywords

expected utilityordinal definition of smoothness of a preference functionalspace of probability distributions

Mathematics Subject Classification ID

Utility theory (91B16)

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Cites work

• "Expected Utility" Analysis without the Independence Axiom
• "Preference Reversal" and the Observability of Preferences by Experimental Methods
• A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox
• A correspondence theorem between expected utility and smooth utility
• An axiomatic characterization of preferences under uncertainty: Weakening the independence axiom
• Risk aversion in the theory of expected utility with rank dependent probabilities
• Temporal risk and the nature of induced preferences
• Temporal von Neumann-Morgenstern and induced preferences
• The Dual Theory of Choice under Risk
• Transitive measurable utility

Cited in

(12)

• Decisions under risk and uncertainty: A survey of recent developments
• Comparative statics tests between decision models under risk
• Firm's hedging behavior without the expected utility hypothesis
• Revealed preference and portfolio choice
• The preservation of multivariate comparative statics in nonexpected utility theory
• A Model of Utility Smoothing
• Differentiability, comparative statics, and non-expected utility preference
• Comparative statics for rank-dependent expected utility theory
• Comparative statics and non-expected utility preferences
• A correspondence theorem between expected utility and smooth utility
• Two errors in the `Allais impossibility theorem'
• Smooth preferences and the approximate expected utility hypothesis

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