کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7367289 | 1479243 | 2018 | 11 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Axioms for measuring utility on partial mixture sets
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موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Axioms for measuring utility on partial mixture sets Axioms for measuring utility on partial mixture sets](/preview/png/7367289.png)
چکیده انگلیسی
A mixture set is path-connected via a suitable collection of paths, the most common example being a convex set. We introduce partial mixture sets (where certain paths may be missing or excluded) and provide a formal extension of the well-known axiomatisation of cardinal linear utility by Herstein and Milnor. In order to compensate for the weaker structure of partial mixture sets, it is necessary to strengthen the Herstein-Milnor axioms. We show that partial mixture sets feature in a variety of benchmark models in the literature and especially where utility may be cardinal nonlinear on a richer set of paths or a larger set of prospects. For instance, in the theory of ambiguity: the canonical partial mixture set consists of the full set of acts together with the set of convex paths that connect comonotonic acts.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Economics - Volume 77, August 2018, Pages 76-86
Journal: Journal of Mathematical Economics - Volume 77, August 2018, Pages 76-86
نویسندگان
Patrick H. O'Callaghan,