A note about the different characterizations of the expected utility theorem/Una nota sobre las diferentes caracterizaciones del teorema de la utilidad esperada

Karla Flores Zarur, William José Olvera López and Leobardo Plata Pérez
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Karla Flores Zarur: Facultad de Ciencias, Universidad Autónoma de San Luis Potosí
William José Olvera López: Facultad de Economía, Universidad Autónoma de San Luis Potosí
Leobardo Plata Pérez: Facultad de Economía, Universidad Autónoma de San Luis Potosí

Estudios Económicos, 2023, vol. 38, issue 1, 167-181

Abstract: In this work, we prove the axiomatic equivalence of several characterizations of the Expected Utility Theorem proposed by Mas-Colell et al. (1995), Jehle and Reny (2011), Maschler et al. (2013), and Rubinstein (2012). A general language is used for unifying the notation, and we introduce a recursive definition of the lottery space in the expected utility theory.

Keywords: expected utility theory; lottery space; axiomatic equivalence (search for similar items in EconPapers)
JEL-codes: C70 D00 D81 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:emx:esteco:v:38:y:2023:i:1:p:167-181

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