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Multiutility representations for incomplete difference preorders

  • Pivato, Marcus

A ``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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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 41182.

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Date of creation: 09 Sep 2012
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Handle: RePEc:pra:mprapa:41182
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  1. Özgür Evren, 2008. "On the existence of expected multi-utility representations," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(3), pages 575-592, June.
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  8. Ghirardato, Paolo & Maccheroni, Fabio & Marinacci, Massimo & Siniscalchi, Marciano, 2001. "A Subjective Spin on Roulette Wheels," Working Papers 1127, California Institute of Technology, Division of the Humanities and Social Sciences.
  9. YIlmaz, Özgür, 2008. "Utility representation of lower separable preferences," Mathematical Social Sciences, Elsevier, vol. 56(3), pages 389-394, November.
  10. Ok, Efe A., 2002. "Utility Representation of an Incomplete Preference Relation," Journal of Economic Theory, Elsevier, vol. 104(2), pages 429-449, June.
  11. Marcus Pivato, 2013. "Risky social choice with incomplete or noisy interpersonal comparisons of well-being," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(1), pages 123-139, January.
  12. Matthew Rabin, 1998. "Psychology and Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
  13. Rigotti, Luca & Shannon, Chris, 2001. "Uncertainty and Risk in Financial Markets," Department of Economics, Working Paper Series qt7pp7113z, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  14. Tsogbadral Galaabaatar & Edi Karni, 2013. "Subjective Expected Utility With Incomplete Preferences," Econometrica, Econometric Society, vol. 81(1), pages 255-284, 01.
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  16. Patrick Suppes & Muriel Winet, 1955. "An Axiomatization of Utility Based on the Notion of Utility Differences," Management Science, INFORMS, vol. 1(3-4), pages 259-270, 04-07.
  17. Marcus Pivato, 2014. "Additive representation of separable preferences over infinite products," Theory and Decision, Springer, vol. 77(1), pages 31-83, June.
  18. Kaminski, B., 2007. "On quasi-orderings and multi-objective functions," European Journal of Operational Research, Elsevier, vol. 177(3), pages 1591-1598, March.
  19. Marcus Pivato, 2015. "Social choice with approximate interpersonal comparison of welfare gains," Theory and Decision, Springer, vol. 79(2), pages 181-216, September.
  20. Kaushik Basu, 1982. "Determinateness of the Utility Function: Revisiting a Controversy of the Thirties," Review of Economic Studies, Oxford University Press, vol. 49(2), pages 307-311.
  21. Mandler, Michael, 2005. "Incomplete preferences and rational intransitivity of choice," Games and Economic Behavior, Elsevier, vol. 50(2), pages 255-277, February.
  22. Efe A. Ok & Pietro Ortoleva & Gil Riella, 2012. "Incomplete Preferences Under Uncertainty: Indecisiveness in Beliefs versus Tastes," Econometrica, Econometric Society, vol. 80(4), pages 1791-1808, 07.
  23. Evren, Özgür & Ok, Efe A., 2011. "On the multi-utility representation of preference relations," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 554-563.
  24. Veronika Köbberling, 2006. "Strength of preference and cardinal utility," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 27(2), pages 375-391, January.
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