Weighted utility theory with incomplete preferences

Edi Karni and Nan Zhou

Mathematical Social Sciences, 2021, vol. 113, issue C, 116-135

Abstract: This paper axiomatizes the representations of weighted utility theory with incomplete preferences. These include the general multiple weighted utility representation as well as special cases of multiple utilities or multiple weights only. Some behavioral implications are explored in the context of a portfolio selection problem, which illustrates the potential applicability of such models to a range of problems.

Keywords: Incomplete preferences; Weighted utility theory; Multiple weighted expected utility representation (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:matsoc:v:113:y:2021:i:c:p:116-135

DOI: 10.1016/j.mathsocsci.2021.05.005

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