Open Access
Translator Disclaimer
October, 1972 Alternative Axiomatizations of One-Way Expected Utility
Peter C. Fishburn
Ann. Math. Statist. 43(5): 1648-1651 (October, 1972). DOI: 10.1214/aoms/1177692397

Abstract

An axiomatization for one-way expected utility, $P \succ Q \Rightarrow E(u, P) > E(u, Q)$, is given which places no restriction on the cardinality of the consequence set. In comparison with a previous axiomatization [Ann. Math. Statist. $\mathbf{42}$ (1971) 572-577] for finite consequence sets, the new axioms strengthen the Archimedean property and weaken the order-independence conditions. In particular, the new theory avoids the criticism of indifference due to threshold phenomena that affects the previous axiomatization.

Citation

Download Citation

Peter C. Fishburn. "Alternative Axiomatizations of One-Way Expected Utility." Ann. Math. Statist. 43 (5) 1648 - 1651, October, 1972. https://doi.org/10.1214/aoms/1177692397

Information

Published: October, 1972
First available in Project Euclid: 27 April 2007

zbMATH: 0251.90064
MathSciNet: MR351398
Digital Object Identifier: 10.1214/aoms/1177692397

Rights: Copyright © 1972 Institute of Mathematical Statistics

JOURNAL ARTICLE
4 PAGES


SHARE
Vol.43 • No. 5 • October, 1972
Back to Top