Journal
THEORY AND DECISION
Volume 65, Issue 4, Pages 303-323Publisher
SPRINGER
DOI: 10.1007/s11238-007-9086-7
Keywords
incomplete preference relations; interval orders; partial orders
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We study preferences over lotteries which do not necessarily satisfy completeness. We provide a characterization which generalizes Expected Utility theory. We show in particular that various sure-thing axioms are needed to guaranteee the representability in terms of utility intervals rather than numbers, and to provide a linear interval order representation which is very much in the spirit of Expected Utility theory.
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