Arbeitspapier
Parametric representation of preferences
A preference is invariant with respect to a transformation if its ranking of acts is unaffected by a reshuffing of the states under. We show that any invariant preference must be parametric: there is a unique sufficient set of parameters such that the preference ranks acts according to their expected utility given the parameters. This property holds for all non-trivial preferences, provided only that they are reflexive, transitive, monotone, continuous and mixture linear.
- Language
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Englisch
- Bibliographic citation
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Series: Discussion Paper ; No. 1529
- Classification
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Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Al-Najjar, Nabil I.
De Castro, Luciano I.
- Event
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Veröffentlichung
- (who)
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Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science
- (where)
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Evanston, IL
- (when)
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2010
- Handle
- Last update
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10.03.2025, 11:45 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Al-Najjar, Nabil I.
- De Castro, Luciano I.
- Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science
Time of origin
- 2010
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