Karni, Edi and Safra, Zvi (2015) Continuity, completeness, betweenness and cone-monotonicity. Mathematical Social Sciences, 74 . pp. 68-72.

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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, implies monotonicity with respect to first-order stochastic dominance.

Item Type:	Journal Article
Subjects:	H Social Sciences > HB Economic Theory
Divisions:	Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH):	Decision making, Risk
Journal or Publication Title:	Mathematical Social Sciences
Publisher:	Elsevier BV
ISSN:	0165-4896
Official Date:	March 2015
Dates:	Date Event March 2015 Published 7 January 2015 Available 28 December 2014 Accepted 27 April 2014 Submitted
Date of first compliant deposit:	11 December 2015
Volume:	74
Number of Pages:	5
Page Range:	pp. 68-72
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access

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