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Notes on supermodularity and increasing differences in expected utility

Author

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  • Francetich, Alejandro

Abstract

Many choice-theoretic and game-theoretic applications in Economics invoke some form of supermodularity or increasing differences for objective functions defined on lattices. These notes provide axiomatic foundations for these properties on expected-utility representations of preferences over lotteries.

Suggested Citation

  • Francetich, Alejandro, 2013. "Notes on supermodularity and increasing differences in expected utility," Economics Letters, Elsevier, vol. 121(2), pages 206-209.
  • Handle: RePEc:eee:ecolet:v:121:y:2013:i:2:p:206-209
    DOI: 10.1016/j.econlet.2013.08.009
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    References listed on IDEAS

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    1. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-180, January.
    2. Chambers, Christopher P. & Echenique, Federico, 2009. "Supermodularity and preferences," Journal of Economic Theory, Elsevier, vol. 144(3), pages 1004-1014, May.
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    More about this item

    Keywords

    Expected utility; Supermodularity; Quasi-supermodularity; Increasing differences; Single crossing;

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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