Expected utility with an interval ordered structure (Q1116920)
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scientific article; zbMATH DE number 4089390
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Expected utility with an interval ordered structure |
scientific article; zbMATH DE number 4089390 |
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Expected utility with an interval ordered structure (English)
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1988
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This paper examines an interval ordered structure under risky conditions and proves that it has an expected utility representation with a threshold function. In addition to the assumption of an interval order, two independence axioms and a strong Archimedean axiom are necessary and sufficient for the representation. The threshold is given by a nonnegative linear functional. We also explore a special structure which gives a nonnegative constant threshold function.
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interval ordered structure
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risky conditions
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expected utility representation
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threshold function
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independence axioms
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strong Archimedean axiom
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nonnegative linear functional
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