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Expected utility without bounds—A simple proof

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  • Dillenberger, David
  • Vijay Krishna, R.

Abstract

We provide a simple proof for the existence of an expected utility representation of a preference relation with an unbounded and continuous utility function.

Suggested Citation

  • Dillenberger, David & Vijay Krishna, R., 2014. "Expected utility without bounds—A simple proof," Journal of Mathematical Economics, Elsevier, vol. 52(C), pages 143-147.
    • Handle: RePEc:eee:mateco:v:52:y:2014:i:c:p:143-147
    DOI: 10.1016/j.jmateco.2013.12.011
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    References listed on IDEAS

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    1. Peter C. Fishburn, 1976. "Unbounded Utility Functions in Expected Utility Theory," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 90(1), pages 163-168.
    2. David M. Kreps, 2012. "Microeconomic Foundations I: Choice and Competitive Markets," Economics Books, Princeton University Press, edition 1, volume 1, number 9890, December.
    3. Grandmont, Jean-Michel, 1972. "Continuity properties of a von Neumann-Morgenstern utility," Journal of Economic Theory, Elsevier, vol. 4(1), pages 45-57, February.
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    2. Michael Greinecker & Christoph Kuzmics, 2026. "Limit Orders and Knightian Uncertainty," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 67(1), pages 353-363, February.

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