Aggregation of Semi-Orders: Intransitive Indifference Makes a Difference

Itzhak Gilboa and Robert Lapson
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Robert Lapson: Northwestern University [Evanston]

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Abstract: A semiorder can be thought of as a binary relation P for which there is a utilityu representing it in the following sense: xPy iffu(x) −u(y) > 1. We argue that weak orders (for which indifference is transitive) can not be considered a successful approximation of semiorders; for instance, a utility function representing a semiorder in the manner mentioned above is almost unique, i.e. cardinal and not only ordinal. In this paper we deal with semiorders on a product space and their relation to given semiorders on the original spaces. Following the intuition of Rubinstein we find surprising results: with the appropriate framework, it turns out that a Savage-type expected utility requires significantly weaker axioms than it does in the context of weak orders.

Keywords: Aggregation; Semi-Orders; Intransitive Indifference (search for similar items in EconPapers)
Date: 1995-02
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Published in Economic Theory, 1995, Vol.5, issue 1, pp. 109-126. ⟨10.1007/BF01213647⟩

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Related works:
Journal Article: Aggregation of Semiorders: Intransitive Indifference Makes a Difference (1995)
Working Paper: Aggregation of Semiorders: Intransitive Indifference Makes a Difference (1990)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00753141

DOI: 10.1007/BF01213647

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