Diversification, Convex Preferences and Non-Empty Core

Jean-Marc Tallon and Alain Chateauneuf

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: We show, in the Choquet expected utility model, that prefernece for diversification, that is, convex prefrences, is equivalent to a concave utility index and a convex capacity. We then introduce a weaker notion of diversification, namely "sure diversification". We show that this implies that the core of the capacity be non-empty. The converse hodls under concavity of the utility index.

Keywords: UTILITY FUNCTION; PREFERENCE CHOICES (search for similar items in EconPapers)
JEL-codes: D11 (search for similar items in EconPapers)
Pages: 14 pages
Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (10)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Diversification, convex preferences and non-empty core in the Choquet expected utility model (2002)
Working Paper: Diversification, convex preferences and non-empty core in the Choquet expected utility model (2002)
Working Paper: Diversification, Convex Preferences and Non-Empty Core (2000)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fth:pariem:98.32

Access Statistics for this paper

More papers in Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1) France; Universite de Paris I - Pantheon- Sorbonne, 12 Place de Pantheon-75005 Paris, France. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Krichel ().