Multiutility representations for incomplete difference preorders
AbstractA ``difference preorder'' is a (possibly incomplete) preorder on a space of state changes (rather than the states themselves); it encodes information about preference intensity, in addition to ordinal preferences. We find necessary and sufficient conditions for a difference preorder to be representable by a family of cardinal utility functions which take values in linearly ordered abelian groups. This has applications to interpersonal comparisons, social welfare, and decisions under uncertainty.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 41182.
Date of creation: 09 Sep 2012
Date of revision:
Preference intensity; cardinal utility; linearly ordered abelian group; social welfare; uncertainty;
Find related papers by JEL classification:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D60 - Microeconomics - - Welfare Economics - - - General
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