On the Representation of Incomplete Preferences Over Risky Alternatives

    loading  Checking for direct PDF access through Ovid


We study preferences over lotteries which do not necessarily satisfy completeness. We provide a characterization which generalizes Expected Utility theory. We show in particular that various sure-thing axioms are needed to guaranteee the representability in terms of utility intervals rather than numbers, and to provide a linear interval order representation which is very much in the spirit of Expected Utility theory.

Related Topics

    loading  Loading Related Articles