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Axiomatic characterizations of probabilistic max-min extended Coice Correspondence

100%

Lahiri S.

tom 17

87-101

In this paper we provide two axiomatic characterizations of the probabilistic max-min extended choice correspondence support, for a decision maker who has state-dependent preferences (represented by a linear order) over the set of alternatives and a (subjective) probability vector over states of nature, where both preferences and probability vectors are variable.

Ascending Probabilistic Max-min Extended Choice Correspondence

100%

Lahiri S.

2023

tom 70

nr 1

1-12

In this paper, we provide an axiomatic characterization of the ascending probabilistic max-min extended choice correspondence for a decision-maker who has state-dependent preferences (represented by a linear order) over a set of alternatives and a (subjective) probability vector over states of nature, where both the preferences and probability vectors are variable. Further on the domain of all extended preference profiles for which the Ascending Probabilistic Max-Min Extended Choice Correspondence is resolute, the same choice correspondence is completely characterized by just two of the three axioms that are required for the axiomatic characterization on the more general domain. A significant feature of our solution concept and the related axiomatic analysis is that we use no more information than the probability with which each alternative realizes each rank.