The impossibility of compromise: Some uniqueness properties of expected utility preferences

Economic Theory

Volumn 16, Issue 2, 2000, Pages 245-258

  Ghirardato, Paolo ^a   Marinacci, Massimo ^b  

^a CALIFORNIA INSTITUTE OF TECHNOLOGY   (United States)

^b UNIVERSITY OF BOLOGNA   (Italy)

Author keywords

Range convexity; Subjective expected utility; Uniqueness

Indexed keywords

EID: 0034348769     PISSN: 09382259     EISSN: None     Source Type: Journal    
DOI: 10.1007/PL00004083     Document Type: Article

References (16)

1. 1. Anscombe, F.J., Aumann, R.J.: A definition of subjective probability. Annals of Mathematical Statistics 34, 199-205 (1963)
2. 2. de Finetti, B.: Teoria delle probabilità. Torino: Einaudi 1970. Translated in English as: Theory of Probability. New York: Wiley 1974
3. 3. Fishburn, P.C.: Utility theory for decision making. New York: Wiley 1970
4. 4. Harsanyi, J.C.: Cardinal welfare, individualistic ethics, and interpersonal comparisons of utility. Journal of Political Economy 63, 309-321 (1955)
5. 5. Krantz, D.H., Luce, R.D., Suppes, P., Tversky, A.: Foundations of measurement: Additive and polynomial representations, vol. 1. San Diego: Academic Press 1971
6. 6. Machina, M.J., Schmeidler, D.: A more robust definition of subjective probability. Econometrica 60, 745-780 (1992)
7. 7. Machina, M.J., Schmeidler, D.: Bayes without Bernoulli: Simple conditions for probabilistically sophisticated choice. Journal of Economic Theory 67, 106-128 (1995)
8. 8. Marinacci, M.: A uniqueness theorem for convex-ranged measures. Mimeo, University of Toronto (1998)
9. 9. Marschak, J.: Rational choice and uncertain prospects. Econometrica 18, 111-141 (1950)
10. 10. Mongin, P.: Consistent Bayesian aggregation. Journal of Economic Theory 66, 313-351 (1995)
11. 11. Nakamura, Y.: Subjective expected utility with non-additive probabilities on finite state spaces. Journal of Economic Theory 51, 346-366 (1990)
12. 12. Savage, L.J.: The foundations of statistics. New York: Wiley 1954
13. 13. Schmeidler, D.: Subjective probability and expected utility without additivity. Econometrica 57, 571-587 (1989)
14. 14. von Neumann, J., Morgenstern, O.: Theory of games and economic behavior. Princeton: Princeton University Press 1947
15. 15. Wakker, P.P.: The algebraic versus the topological approach to additive representations. Journal of Mathematical Psychology 32, 421-435 (1988)
16. 16. Wakker, P.P.: Additive representations of preferences. Dordrecht: Kluwer 1989