Ordinal dominance and risk aversion
Bulat Gafarov () and
Bruno Salcedo ()
Additional contact information
Bulat Gafarov: The Pennsylvania State University
Economic Theory Bulletin, 2015, vol. 3, issue 2, 287-298
Abstract We find that, for sufficiently risk-averse agents, strict dominance by pure or mixed actions coincides with dominance by pure actions in the sense of (Börgers in Econometrica 61(2):423–430, 1993), which, in turn, coincides with the classical notion of strict dominance by pure actions when preferences are asymmetric. Since risk aversion is a cardinal feature, all finite single-agent choice problems with ordinal preferences admit compatible utility functions which are sufficiently risk averse as to achieve equivalence between pure and mixed dominance. This result extends to some infinite environments.
Keywords: Rationalizability; Dominance; Risk aversion; Ordinal preferences; Revealed preferences (search for similar items in EconPapers)
JEL-codes: D81 C72 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s40505-014-0059-z Abstract (text/html)
Access to the full text of the articles in this series is restricted.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:etbull:v:3:y:2015:i:2:d:10.1007_s40505-014-0059-z
Ordering information: This journal article can be ordered from
Access Statistics for this article
Economic Theory Bulletin is currently edited by Nicholas C. Yannelis
More articles in Economic Theory Bulletin from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().