Multiple tastes and beliefs with an infinite prize space

DOI10.1007/S00199-022-01452-2MaRDI QIDQ6074832zbMATH OpenOpenAlexFDO

Authors Kazuhiro Hara, Gil Riella

Publication date 19 September 2023

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00199-022-01452-2

zbMATH Keywords

cautious expected utilityincomplete preferences under uncertaintymulti-prior expected multi-utility representationstate-dependent utility function

Mathematics Subject Classification ID

Utility theory (91B16)

Review text

The authors of the paper consider the so called \textit{multi-prior expected multi-utility} representation. They present an axiomatization of this model when the prize space in an arbitrary compact metric space. The set of necessary axioms consists of eighteen assertions. Using the given axioms, the authors present several theorems on properties of the special preorder \(\succsim\) and similar relations \(\succsim^*\), \(\succsim^\wedge\), \(\succ^*\), \(\succ^\wedge\) defined in the space of all acts.

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Cites work

• A non-Bayesian theory of state-dependent utility
• A representation of partially ordered preferences
• An Introduction to Banach Space Theory
• Cautious Expected Utility and the Certainty Effect
• Coalitional expected multi-utility theory
• Expected utility theory without the completeness axiom.
• Extremal structure of convex sets. II
• scientific article; zbMATH DE number 1867947 (Why is no real title available?)
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• Knightian decision theory. I.
• Maxmin expected utility with non-unique prior
• Objective and subjective rationality in a multiple prior model
• On the representation of incomplete preferences under uncertainty with indecisiveness in tastes and beliefs
• Preferences for one-shot resolution of uncertainty and Allais-type behavior
• Scalarization methods and expected multi-utility representations
• Subjective expected utility with incomplete preferences
• The shape of incomplete preferences

Cited in

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• Expected utility in Savage's framework without the completeness axiom

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