Autori
Maccheroni, Fabio
Dubra, Juan
Ok, Efe

Titolo
Expected utility theory without the completeness axiom
Periodico
International Center for Economics Research, Torino. ICER - Working papers series
Anno: 2001 - Fascicolo: 11 - Pagina iniziale: 1 - Pagina finale: 12

We study axiomatically the problem of obtaining an expected utility representation for a potentially incomplete preference relation over lotteries by means of a set of von Neumann-Morgenstern utility functions. It is shown that, when the prize space is a compact metric space, a preference relation admits such a Multi-utility representation provided that it satisfies the standard axioms of expected utility theory. Moreover, the representing set of utilities in unique in a well-defined sense.



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