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Pré-Publication, Document De Travail Année : 2023

Subjective Expected Utility on Arbitrary State Spaces

Résumé

This article considers Savage's theorem in a configuration relaxing the technical axioms P6 and P7 that ensure a continuum nature on the set of states. With the only enrichment on fundamentals being the connectivity of the outcomes set, we show that a weakened version of the Independence property is sufficient to establish a utility function, a subjective probability, and an expected utility behavior. The proof does not require the existence of a pair event, an idea initiated by Ramsey (1931) and applied by Gul (1992).
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Dates et versions

hal-04319643 , version 1 (03-12-2023)

Identifiants

  • HAL Id : hal-04319643 , version 1

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Thai Ha-Huy. Subjective Expected Utility on Arbitrary State Spaces. 2023. ⟨hal-04319643⟩
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