On representation of preferences à la Debreu
by Erio Castagnoli; Marzia De Donno; Gino Favero; Paola Modesti
International Journal of Data Science (IJDS), Vol. 8, No. 3, 2023

Abstract: A representation theorem proven by G. Debreu in 1960, although somehow neglected by the literature, implies several deep and unexplored consequences both for Economics and for Decision Theory. This paper focuses on some of them. In particular, possible decompositions of state-dependent utilities à la Debreu (which may equivalently be seen as 'utility-dependent probabilities') are analysed, showing that Debreu's representation is based upon a 'joint' probability/utility function. It is illustrated how Debreu's Theorem can provide a neat geometrical interpretation of Castagnoli and LiCalzi's 'benchmarking' representation of preferences. (Conditional) Certainty Equivalents are defined and studied, and possible implications for attempting representation of incomplete preferences are discussed.

Online publication date: Mon, 17-Jul-2023

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Data Science (IJDS):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com