Journal Article State-dependent strength-of-preference

Nakamura, Yutaka

78pp.64 - 68 , 2015-11 , Elsevier B.V.
ISSN:0165-4896
NCID:AA10464240
Description
When a utility function is state-dependent, ex ante preferences for acts cannot elicit unique subjective probabilities without auxiliary devices. This paper introduces ex-post strength-of-preferences for state-contingent decision outcomes. Then we prove that a consistency condition between ex ante preference and ex post strength-of-preference relations can separate utility and unique subjective state probabilities.
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