On the Representation of Incomplete Preferences under Uncertainty with Indecisiveness in Tastes

Gil Riella

No 1/2013, Economics and Politics Working Paper Series from Economics and Politics Research Group (EPRG), University of Brasília

Abstract: Recently, there has been some interest on models of incomplete preferences under uncertainty that allow for incompleteness of tastes. In particular, Galaabaatar and Karni (2013) and Ok, Ortoleva, and Riella (2012) presented different axiomatizations of the so called Single-prior Expected Multi-utility model. In this paper we prove two characterizations of the Single-prior Expected Multi-utility model. First, we show that the restriction of a finite prize space in Galaabaatar and Karni (2013)'s result is not necessary. That is, their characterization is still true when the prize space is a compact metric space. Second, we present an axiomatization of the Single-prior Expected Multi-utility model that replaces the existence of best and worst constant acts by the weaker assumption that there exists a constant act that is strictly preferred to some other constant act.

Date: 2013-06-12
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Persistent link: https://EconPapers.repec.org/RePEc:gvn:eprgwp:12013

DOI: 10.5281/zenodo.23602584

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