A characterization of Cesaro average utility

• 成果类型: Article
• 署名作者: Pivato, Marcus
• 署名单位: Universite Bourgogne Europe; Centre National de la Recherche Scientifique (CNRS); CY Cergy Paris Universite
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2022.105440
• 发表日期: 2022
• 关键词: Subjective expected utility; Insufficient reason; intertemporal choice; Infinite patience; Intergenerational social choice; Cesaro mean

摘要

Let X be a connected metric space, and let >= be a weak order defined on a suitable subset of X-N. We characterize when >= has a Cesaro average utility representation. This means that there is a continuous real-valued function u on X such that, for all sequences x = (x(n))(n=1)(infinity) and y = (y(n))(n=1)(infinity) in the domain of >=, we have x >= y if and only if the limit as N ->infinity of the average value of u(x(1)), ...,u(x(N)) is higher than limit as N ->infinity of the average value of u(y(1)), ..., u(y(N)). This has applications to decision theory, game theory, and intergenerational social choice. (C) 2022 Elsevier Inc. All rights reserved.