Autore
Maccheroni, Fabio

Titolo
Yaari dual theory without the completeness axiom
Periodico
International Center for Economics Research, Torino. ICER - Working papers series
Anno: 2001 - Fascicolo: 30 - Pagina iniziale: 1 - Pagina finale: 13

This note shows how Yaari’s dual theory of choice under risk naturally extends to the case of incomplete preferences. This also provides an axiomatic characterization of a large and widely studied class of stochastic orders used to rank the riskiness of random variables or the dispersion of income distributions (including, e.g., second order stochastic dominance, dispersion, location independent riskiness).



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