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Continuity, completeness, betweenness and cone-monotonicity
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Karni, Edi and Safra, Zvi (2015) Continuity, completeness, betweenness and cone-monotonicity. Mathematical Social Sciences, 74 . pp. 68-72. ISSN 0165-4896.
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WRAP_Karni Safra Cont%2C Comp%2C Betw and Cone-mon accepted DEC 2014.pdf - Accepted Version - Requires a PDF viewer. Download (530Kb) | Preview |
Official URL: http://dx.doi.org/10.1016/j.mathsocsci.2014.12.007
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 | ||||||||||
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Subjects: | H Social Sciences > HB Economic Theory | ||||||||||
Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
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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: |
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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 | ||||||||||
Date of first compliant deposit: | 11 December 2015 | ||||||||||
Date of first compliant Open Access: | 28 July 2016 |
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