Conditional preference orders and their numerical representations
Samuel Drapeau and
Journal of Mathematical Economics, 2016, vol. 63, issue C, pages 106-118
We provide an axiomatic system modeling conditional preference orders which is based on conditional set theory. Conditional numerical representations are introduced, and a conditional version of the theorems of Debreu on the existence of numerical representations is proved. The conditionally continuous representations follow from a conditional version of Debreu’s Gap Lemma the proof of which relies on a conditional version of the axiom of choice, free of any measurable selection argument. We give a conditional version of the von Neumann and Morgenstern representation as well as automatic conditional continuity results, and illustrate them by examples.
Keywords: Conditional preferences; Utility theory; Gap Lemma; von Neumann and Morgenstern (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:eee:mateco:v:63:y:2016:i:c:p:106-118
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