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Generalized stochastic dominance and bad outcome aversion

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Abstract

Incomplete preferences over lotteries on a finite set of alternatives satisfying, besides independence and continuity, a property called bad outcome aversion are considered. These preferences are characterized in terms of their specific multi-expected utility representations (cf. Dubra et al., J Econ Theory, 115:118-133, 2004), and can be seen as generalized stochastic dominance preferences.

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  • COMPLETENESS AXIOM, EXPECTED UTILITY
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Details

Original languageEnglish
Pages (from-to)285-290
Number of pages6
JournalSocial Choice and Welfare
Volume35
Issue number2
DOIs
Publication statusPublished - Jul 2010