TY - JOUR

T1 - Continuity, completeness, betweenness and cone-monotonicity

AU - Karni, Edi

AU - Safra, Zvi

N1 - Publisher Copyright:
© 2015 Elsevier B.V.

PY - 2015/3/1

Y1 - 2015/3/1

N2 - A non-trivial, transitive and reflexive binary relation on the set of lotteries satisfying independence that also satisfies any two of the following three axioms satisfies the third: completeness, Archimedean and mixture continuity (Dubra, 2011). This paper generalizes Dubra's result in two ways: First, by replacing independence with a weaker betweenness axiom. Second, by replacing independence with a weaker cone-monotonicity axiom. The latter is related to betweenness and, in the case in which outcomes correspond to real numbers, is implied by monotonicity with respect to first-order stochastic dominance.

AB - A non-trivial, transitive and reflexive binary relation on the set of lotteries satisfying independence that also satisfies any two of the following three axioms satisfies the third: completeness, Archimedean and mixture continuity (Dubra, 2011). This paper generalizes Dubra's result in two ways: First, by replacing independence with a weaker betweenness axiom. Second, by replacing independence with a weaker cone-monotonicity axiom. The latter is related to betweenness and, in the case in which outcomes correspond to real numbers, is implied by monotonicity with respect to first-order stochastic dominance.

UR - http://www.scopus.com/inward/record.url?scp=84922145231&partnerID=8YFLogxK

U2 - 10.1016/j.mathsocsci.2014.12.007

DO - 10.1016/j.mathsocsci.2014.12.007

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AN - SCOPUS:84922145231

VL - 74

SP - 68

EP - 72

JO - Mathematical Social Sciences

JF - Mathematical Social Sciences

SN - 0165-4896

ER -