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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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File URL: https://mpra.ub.uni-muenchen.de/41182/1/MPRA_paper_41182.pdf
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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. 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.
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  4. YIlmaz, Özgür, 2008. "Utility representation of lower separable preferences," Mathematical Social Sciences, Elsevier, vol. 56(3), pages 389-394, November.
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  8. 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.
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  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, 2014. "Additive representation of separable preferences over infinite products," Theory and Decision, Springer, vol. 77(1), pages 31-83, June.
  12. 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.
  13. Pivato, Marcus, 2011. "Social choice with approximate interpersonal comparison of welfare gains," MPRA Paper 32252, University Library of Munich, Germany.
  14. Özgür Evren, 2008. "On the existence of expected multi-utility representations," Economic Theory, Springer, vol. 35(3), pages 575-592, June.
  15. Mandler, Michael, 2005. "Incomplete preferences and rational intransitivity of choice," Games and Economic Behavior, Elsevier, vol. 50(2), pages 255-277, February.
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  17. Veronika Köbberling, 2006. "Strength of preference and cardinal utility," Economic Theory, Springer, vol. 27(2), pages 375-391, January.
  18. Basu, Kaushik, 1982. "Determinateness of the Utility Function: Revisiting a Controversy of the Thirties," Review of Economic Studies, Wiley Blackwell, vol. 49(2), pages 307-11, April.
  19. 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.
  20. Marcus Pivato, 2013. "Risky social choice with incomplete or noisy interpersonal comparisons of well-being," Social Choice and Welfare, Springer, vol. 40(1), pages 123-139, January.
  21. Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci & Marciano Siniscalchi, 2001. "A subjective spin on roulette wheels," ICER Working Papers - Applied Mathematics Series 17-2001, ICER - International Centre for Economic Research, revised Aug 2001.
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