Smooth preferences and the approximate expected utility hypothesis (Q1821673)
From MaRDI portal
 | This is the item page for this Wikibase entity, intended for internal use and editing purposes. Please use this page instead for the normal view: Smooth preferences and the approximate expected utility hypothesis |
scientific article; zbMATH DE number 3999616
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Smooth preferences and the approximate expected utility hypothesis |
scientific article; zbMATH DE number 3999616 |
Statements
Smooth preferences and the approximate expected utility hypothesis (English)
0 references
1987
0 references
Mild smoothness conditions on continuous complete preorders over lotteries imply that various local versions of the expected utility hypothesis are satisfied, i.e. for small deviations, there is a utility (representing the individual's preferences) that is linear in probabilities. For these results, notions of smooth preferences over an infinite dimensional set of probability measures are developed.
0 references
smoothness conditions
0 references
continuous complete preorders over lotteries
0 references
expected utility hypothesis
0 references
infinite dimensional set of probability measures
0 references
0 references
