Book Section records
https://feeds.library.caltech.edu/people/Border-K-C/book_section.rss
A Caltech Library Repository Feedhttp://www.rssboard.org/rss-specificationpython-feedgenenThu, 30 Nov 2023 17:49:36 +0000Functional analytic tools for expected utility theory
https://resolver.caltech.edu/CaltechAUTHORS:20201211-170108337
Authors: Border, K. C.
Year: 1991
DOI: 10.1007/978-3-642-58199-1_4
Depending on the school of thought, expected utility theory states that choices among lotteries either should be made or actually made by maximizing the expected value of a real valued function of the outcomesâ€”a utility function. This article provides a look at some of the functional analytic results used in expected utility theory. I concentrate on applications to the theory of stochastic dominance relations and the revealed preference approach to expected utility. Few of these results are deep, given the underlying tools, but many of them are not widely known, and their combination is novel. In particular, the revealed preference results of Border [4] are extended to higher degree stochastic dominance relations.https://authors.library.caltech.edu/records/hdbb8-sv984