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作者：Ergin, Haluk; Gul, Faruk
作者单位：Princeton University; Washington University (WUSTL)
摘要：We develop a Savage-type model of choice under uncertainty in which agents identify uncertain prospects with subjective compound lotteries. Our theory permits issue preference; that is, agents may not be indifferent among gambles that yield the same probability distribution if they depend on different issues. Hence, we establish subjective foundations for the Anscombe-Aumann framework and other models with two different types of probabilities. We define second-order risk as risk that resolves ...
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作者：Hill, Brian
作者单位：Hautes Etudes Commerciales (HEC) Paris
摘要：Whether a preference relation can be represented using state-independent utilities as opposed to state-dependent utilities may depend on which acts count as constant acts. This observation underlies an extension of Savage's expected utility theory to the state-dependent case that was proposed in this journal by Edi Kami. His result contains a condition requiring the existence of a set of acts which can play the role of constant acts and support a representation involving a state-independent ut...
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作者：Chambers, Christopher P.; Echenique, Federico
作者单位：California Institute of Technology
摘要：We uncover the complete ordinal implications of supermodularity on finite lattices under the assumption of weak monotonicity. In this environment, we show that supermodularity is ordinally equivalent to the notion of quasisupermodularity introduced by Milgrom and Shannon. We conclude that supermodularity is a weak property, in the sense that many preferences have a supermodular representation. (C) 2008 Elsevier Inc. All rights reserved.
