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Certainty independence and the separation of utility and beliefs
- Source :
- Journal of Economic Theory. March, 2005, Vol. 121 Issue 1, p129, 8 p.
- Publication Year :
- 2005
-
Abstract
- The study conducted presents that for a general class of preferences, a separation of a key component of tastes, the utility function, from the other components of the representation is possible only if the decision maker's preference satisfy a mild but not completely innocuous conditions, called 'certainty independence'. The study outlines the axiomatic characterization of the preferences that obtain such separation, which are a subset of the biseperable preferences.
- Subjects :
- Decision-making -- Models
Utility theory -- Usage
Business
Economics
Subjects
Details
- Language :
- English
- ISSN :
- 00220531
- Volume :
- 121
- Issue :
- 1
- Database :
- Gale General OneFile
- Journal :
- Journal of Economic Theory
- Publication Type :
- Academic Journal
- Accession number :
- edsgcl.130432419