Subjective expected utility theory with state-dependent preferences
Article Abstract:
Savage's subjective expected utility theory can be reformulated and extended to include state-dependent preferences. The dependence of the decision maker's preferences over consequences on the states of nature are demonstrated by state-specific mappings of the set of consequences onto itself. Existence is proven for subjective expected utility representations of the preference relation over acts with unique and nonatomic probability measure on the algebra of all events, and for a state-dependent utility function over the set of consequences.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1993
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Transitive Measurable Utility
Article Abstract:
Von-Neumann-Morgenstern linear utility theory is extended to consider risk situations. Independent axioms are avoided. Continuity, dominance and transitivity are formulated. Assumption is made that preferences are transitive.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1983
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Quasi-stationary cardinal utility and present bias
Article Abstract:
An analysis of the quasi-stationary utility is provided.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2003
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