We show that preferences on random numbers which satisfy certain natural properties can be represented, in the setting of topological vector spaces, by a suitable family of continuous previsions which is, in a sense, unique. Moreover, for most commonly used spaces of random numbers, we establish that one can derive these preferences, via an expectation operator, from a suitable family of probabilities (whether or not finitely additive).
Representing complete and incomplete subjective linear preferences on random numbers / Girotto, Bruno; Holzer, Silvano. - In: DECISIONS IN ECONOMICS AND FINANCE. - ISSN 1593-8883. - STAMPA. - 26(2):(2003), pp. 129-144.
Representing complete and incomplete subjective linear preferences on random numbers
GIROTTO, BRUNO;HOLZER, SILVANO
2003-01-01
Abstract
We show that preferences on random numbers which satisfy certain natural properties can be represented, in the setting of topological vector spaces, by a suitable family of continuous previsions which is, in a sense, unique. Moreover, for most commonly used spaces of random numbers, we establish that one can derive these preferences, via an expectation operator, from a suitable family of probabilities (whether or not finitely additive).Pubblicazioni consigliate
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