Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
972554 | Mathematical Social Sciences | 2015 | 5 Pages |
Abstract
A non-trivial, transitive and reflexive binary relation on the set of lotteries satisfying independence that also satisfies any two of the following three axioms satisfies the third: completeness, Archimedean and mixture continuity (Dubra, 2011). This paper generalizes Dubra's result in two ways: First, by replacing independence with a weaker betweenness axiom. Second, by replacing independence with a weaker cone-monotonicity axiom. The latter is related to betweenness and, in the case in which outcomes correspond to real numbers, is implied by monotonicity with respect to first-order stochastic dominance.
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
Edi Karni, Zvi Safra,