Savage's Axioms Usually Imply Violation of Strict Stochastic Dominance

DOI10.2307/2298069zbMATH Open0772.90007OpenAlexW2079985859WikidataQ114588852 ScholiaQ114588852MaRDI QIDQ5289344FDOQ5289344

Authors: Peter P. Wakker 

Publication date: 23 August 1993

Published in: Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.2307/2298069

Recommendations

• Probabilistic sophistication and stochastic monotonicity in the savage framework
• Savage's P3 is redundant
• Probabilistic choice and stochastic dominance
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zbMATH Keywords

stochastic dominanceSavage's axioms

Mathematics Subject Classification ID

Utility theory (91B16)

Cited In (8)

• The development gap in economic rationality of future elites
• Unbounded probabilistic sophistication
• Simple axioms for countably additive subjective probability
• Loss aversion in a multi-period model
• Separating marginal utility and probabilistic risk aversion
• A simple and general axiomatization of average utility maximization for infinite streams
• A foundation for probabilistic beliefs with or without atoms
• Independent postulates for subjective expected utility

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