Journal
ECONOMIC THEORY
Volume 23, Issue 3, Pages 701-714Publisher
SPRINGER-VERLAG
DOI: 10.1007/s00199-003-0395-y
Keywords
Yaari's dual theory; incomplete preferences; stochastic orders
Categories
Ask authors/readers for more resources
This note shows how Yaari (1987)'s dual theory of choice under risk naturally extends to the case of incomplete preferences. This also provides an axiomatic characterization of a large and widely studied class of stochastic orders used to rank the riskiness of random variables or the dispersion of income distributions (including, e.g., second order stochastic dominance, dispersion, location independent riskiness, see Chateauneuf, Cohen, and Meilijson, 1997).
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available