Coalescing, Event Commutativity, and Theories of Utility
AbstractPreferences satisfying rank-dependent utility exhibit three necessary properties: coalescing (forming the union of events having the same consequence), status-quo event commutativity, and rank-dependent additivity. The major result is that, under a few additional, relatively non-controversial, necessary conditions on binary gambles and assuming mappings are onto intervals, the converse is true. A number of other utility representations are checked for each of these three properties (see Table 2, Section 7). Copyright 1998 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Risk and Uncertainty.
Volume (Year): 16 (1998)
Issue (Month): 1 (April)
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Web page: http://www.springerlink.com/link.asp?id=100299
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