Expected Scott-Suppes utility representation
Date
2018Source Title
Journal of Mathematical Psychology
Print ISSN
0022-2496
Electronic ISSN
1096-0880
Publisher
Academic Press
Volume
86
Pages
30 - 40
Language
English
Type
ArticleItem Usage Stats
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Abstract
We provide an axiomatic characterization for an expected Scott-Suppes utility representation. Such a characterization is the natural analog of the von Neumann-Morgenstern expected utility theorem for semiorders and it is noted as an open problem by Fishburn (1968). Expected Scott-Suppes utility representation is analytically tractable and can be used in applications that study preferences with intransitive indifference under uncertainty. Our representation offers a decision-theoretical interpretation for epsilon equilibrium as well.
Keywords
Expected utilityIntransitive indifference
Scott-Suppes representation
Semiorder
Uncertainty