Given a finite set of generalized lotteries, that is random quantities equipped with a belief function, and a partial preference relation on them, a necessary and sufficient condition (Choquet rationality) has been provided for its representation as a Choquet expected utility of a strictly increasing utility function. Here we prove that this condition assures the extension of the preference relation and it actually guides the decision maker in this process.
Extendibility of Choquet rational preferences on generalized lotteries
COLETTI, Giulianella;PETTURITI, DAVIDE;
2014
Abstract
Given a finite set of generalized lotteries, that is random quantities equipped with a belief function, and a partial preference relation on them, a necessary and sufficient condition (Choquet rationality) has been provided for its representation as a Choquet expected utility of a strictly increasing utility function. Here we prove that this condition assures the extension of the preference relation and it actually guides the decision maker in this process.File in questo prodotto:
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