Continuity, completeness, betweenness and cone-monotonicity

Edi Karni and Zvi Safra

Mathematical Social Sciences, 2015, vol. 74, issue C, 68-72

Abstract: A non-trivial, transitive and reflexive binary relation on the set of lotteries satisfying independence that also satisfies any two of the following three axioms satisfies the third: completeness, Archimedean and mixture continuity (Dubra, 2011). This paper generalizes Dubra’s result in two ways: First, by replacing independence with a weaker betweenness axiom. Second, by replacing independence with a weaker cone-monotonicity axiom. The latter is related to betweenness and, in the case in which outcomes correspond to real numbers, is implied by monotonicity with respect to first-order stochastic dominance.

Date: 2015
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:matsoc:v:74:y:2015:i:c:p:68-72

DOI: 10.1016/j.mathsocsci.2014.12.007

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