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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.

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Official URL: http://dx.doi.org/10.1016/j.mathsocsci.2014.12.007

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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:
DateEvent
March 2015Published
7 January 2015Available
28 December 2014Accepted
27 April 2014Submitted
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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