A Note on the Continuity of Expected Utility Functions

Yuhki Hosoya

Papers from arXiv.org

Abstract: In this paper, we study the continuity of expected utility functions, and derive a necessary and sufficient condition for a weak order on the space of simple probabilities to have a continuous expected utility function. We also verify that almost the same condition is necessary and sufficient for a weak order on the space of probabilities with compact-support to have a continuous expected utility function.

Date: 2023-10, Revised 2025-02
New Economics Papers: this item is included in nep-upt
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