Preferences for Shifts in Probabilities and Expected Utility Theory
David Cantala ()
Estudios Económicos, 2007, vol. 22, issue 1, 99-109
Abstract:
We translate preferences over lotteries into preferences over “shifts in probabilities†. We define the independence axiom for such preferences. Next we construct and expected utility function to represent the preferences and present the corresponding additive geometry.
Keywords: expected utility theory; cardinality (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:emx:esteco:v:22:y:2007:i:1:p:99-109
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