Subjective probabilities for state dependent continuous utility
type: Item
instance of: scholarly article
title: Subjective probabilities for state dependent continuous utility
zbMATH Open document ID: 0647.90011
DOI: 10.1016/0165-4896(87)90007-2
published in: Mathematical Social Sciences
publication date: 1987-01-01T00:00:00Z
full work available at URL: http://repub.eur.nl/pub/23241
review text: This paper is a generalization of work by \textit{E. Karni}, \textit{D. Schmeidler} and \textit{K. Vind} [Econometrica 51, 1021-1031 (1983; Zbl 0516.90008)] concerned with the expected-utility-type decision making model with state-dependent utilities. It had been shown there how to recover in a unique way the involved subjective probabilities under known preferences, contingent upon a hypothetical probability distribution over the state space, and for consequence spaces consisting of lotteries on sets of prizes; this may also be extended for consequences being commodity bundles with linear utility. In this paper those results are further generalized to the case when the consequence spaces are connected topological spaces and utility is only continuous.
Mathematics Subject Classification ID: 91B16
Mathematics Subject Classification ID: 91B06
Mathematics Subject Classification ID: 62C99
Mathematics Subject Classification ID: 90B50
zbMATH DE Number: 4057235
zbMATH Keywords: additive representation
zbMATH Keywords: expected-utility-type decision making
zbMATH Keywords: state- dependent utilities
zbMATH Keywords: subjective probabilities
zbMATH Keywords: connected topological spaces
author: Peter P. Wakker
reviewed by: Janusz Kacprzyk
MaRDI profile type: Publication
OpenAlex ID: W2107861108
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description: scientific article; zbMATH DE number 4057235