Finite-dimensional utilities

Yutaka Nakamura

Economic Theory, 2000, vol. 16, issue 1, 209-218

Abstract: Sufficient axioms are identified for the existence of a finite- dimensional quasilinear utility function whose lexicographically ordered vectors preserve a decision maker's preference order on a mixture set ${\cal M}$. It is shown that those axioms are also necessary for the linear lexicographic representation when the underlying set ${\cal M}$ is a mixture space.

Keywords: Lexicographic utility; Decision making under risk; Mixture spaces and sets. (search for similar items in EconPapers)
Date: 2000-04-14
Note: Received: August 20, 1998; revised version: December 14, 1998
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