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Savagés theorem with a finite number of states

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  • Gul, Faruk

Abstract

Conditions which guarantee the existence of a (subjective) expected utility representation of preferences, when the state space is finite, are presented. The key assumptions are continuity and an analogue of the independence axiom.

Suggested Citation

  • Gul, Faruk, 1992. "Savagés theorem with a finite number of states," Journal of Economic Theory, Elsevier, vol. 57(1), pages 99-110.
    • Handle: RePEc:eee:jetheo:v:57:y:1992:i:1:p:99-110
    DOI: 10.1016/S0022-0531(05)80042-0
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    References listed on IDEAS

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    1. Quiggin, John, 1982. "A theory of anticipated utility," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 323-343, December.
    2. Nakamura, Yutaka, 1990. "Subjective expected utility with non-additive probabilities on finite state spaces," Journal of Economic Theory, Elsevier, vol. 51(2), pages 346-366, August.
    3. Stigum, Bernt P, 1972. "Finite State Space and Expected Utility Maximization," Econometrica, Econometric Society, vol. 40(2), pages 253-259, March.
    4. Gerard Debreu, 1959. "Topological Methods in Cardinal Utility Theory," Cowles Foundation Discussion Papers 76, Cowles Foundation for Research in Economics, Yale University.
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    Cited by:

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