Axiomatic utility theories with the betweenness property

DOI10.1007/BF02283525zbMath0707.90024MaRDI QIDQ919973

Soo Hong Chew

Publication date: 1989

Published in: Annals of Operations Research (Search for Journal in Brave)

zbMATH Keywords

axiomatizationbetweenness-conforming utility theoriessecond-price auction mechanism

Mathematics Subject Classification ID

Utility theory (91B16) Auctions, bargaining, bidding and selling, and other market models (91B26)

Related Items (66)

On a statistical approach to choice under uncertainty ⋮ Risk measures with the CxLS property ⋮ Market equilibrium with heterogeneous recursive-utility-maximizing agents ⋮ The projective independence axiom ⋮ Reference points and learning ⋮ How complicated are betweenness preferences? ⋮ Dominated choices in a simple game with large stakes ⋮ Anchored preference relations ⋮ Preferences and metric structures of spaces of alternatives ⋮ Decisions under risk and uncertainty: A survey of recent developments ⋮ The comonotonic sure-thing principle ⋮ Utility theory with probability dependent outcome valuation: Extensions and applications ⋮ Modeling uncertainty in multi-criteria decision analysis ⋮ Multiple-switching behavior in choice-list elicitation of risk preference ⋮ Foundations of continuous-time recursive utility: differentiability and normalization of certainty equivalents ⋮ The two faces of independence: betweenness and homotheticity ⋮ Transitive regret over statistically independent lotteries ⋮ Strength of preference over complementary pairs axiomatizes alpha-MEU preferences ⋮ History-dependent risk attitude ⋮ Ellsberg's two-color experiment, portfolio inertia and ambiguity. ⋮ Adaptive risk assessments ⋮ Random dual expected utility ⋮ Calibration without reduction for non-expected utility ⋮ Mixture independence foundations for expected utility ⋮ An axiomatic account of status quo-dependent non-expected utility: pragmatic constraints on rational choice under risk ⋮ Fundamental Principles of Modeling in Macroeconomics ⋮ An inequality measure for stochastic allocations ⋮ On the indeterminacy of the representation of beliefs by probabilities ⋮ Axiomatic rank-dependent means ⋮ Comparative statics tests between decision models under risk ⋮ Negative certainty independence without betweenness ⋮ The ordinal egalitarian bargaining solution for finite choice sets ⋮ Existence and dynamic consistency of Nash equilibrium with non-expected utility preferences ⋮ English versus Vickrey auctions with loss-averse bidders ⋮ Recursive non-expected utility: connecting ambiguity attitudes to risk preferences and the level of ambiguity ⋮ Additive representations on rank-ordered sets. I: The algebraic approach ⋮ Differentiability, comparative statics, and non-expected utility preference ⋮ Many good choice axioms: When can many-good lotteries be treated as money lotteries? ⋮ Weighted utility theory with incomplete preferences ⋮ Utility theory with probability-dependent outcome valuation ⋮ Risk attitudes in axiomatic decision theory: a conceptual perspective ⋮ Additive representations on rank-ordered sets. II: The topological approach ⋮ Multi-attribute non-expected utility ⋮ The reflection effect for constant risk averse agents ⋮ Nash's bargaining solution when the disagreement point is random ⋮ Different notions of disappointment aversion ⋮ Intertemporal recursive utility and an equilibrium asset pricing model in the presence of Lévy jumps ⋮ On the statistical foundations of nonlinear utility theory: the case of status quo-dependent preferences. ⋮ Strategic games with security and potential level players ⋮ Conditional implicit mean and the law of iterated integrals ⋮ Comparative statics derivatives with nonlinear preferences ⋮ On the robustness of indeterminacy in subjective probability ⋮ The sure-thing principle and the comonotonic sure-thing principle: An axiomatic analysis ⋮ Constant risk aversion ⋮ The ignorant observer ⋮ Risk aversion in the small and in the large: Calibration results for betweenness functionals ⋮ A unifying approach to axiomatic non-expected utility theories ⋮ Fairness and utilitarianism without independence ⋮ Decomposable choice under uncertainty ⋮ A critical look at the Aumann-Serrano and Foster-Hart measures of riskiness ⋮ Incomplete preferences, willingness to pay, and willingness to accept ⋮ An existence theorem of intertemporal recursive utility in the presence of Lévy jumps ⋮ Continuity, completeness, betweenness and cone-monotonicity ⋮ Coherent odds and subjective probability ⋮ Violations of the betweenness axiom and nonlinearity in probability ⋮ The axiomatic basis of risk-value models

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