Permalink: http://hdl.handle.net/1866/9035
Conditional Expected Utility
Article [Version of Record]
Is part of
Cahier de recherche ; no. 2013-02.Publisher(s)
Université de Montréal. Département de sciences économiques.Author(s)
Affiliation
Abstract(s)
Let 'epsilon' be a class of event. Conditionally Expected Utility decision makers are decision makers whose conditional preferences ≿E, E є 'epsilon', satisfy the axioms of Subjective Expected Utility theory (SEU). We extend the notion of unconditional preference that is conditionally EU to unconditional preferences that are not necessarily SEU. We give a representation theorem for a class of such preferences, and show that they are Invariant Bi-separable in the sense of Ghirardato et al.[7]. Then, we consider the special case where the unconditional preference is itself SEU, and compare our results with those of Fishburn [6].