Article (Scientific journals)
A note on Wakker's cardinal coordinate independence
Bouyssou, D.; Pirlot, Marc
2004In Mathematical Social Sciences, (48), p. 11-22
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Abstract :
[en] Peter P. Wakker has forcefully shown the importance for decision theory of a condition that he called 'Cardinal Coordinate Independence' (CCI). Indeed, when the outcome space is rich, he proved that, for continuous weak orders, this condition fully characterizes the Subjective Expected Utility (SEU) model with a finite number of states. He has furthermore explored in depth how this condition can be weakened in order to arrive at characterizations of Choquet Expected Utility and Cumulative Prospect Theory. This note studies the consequences of this condition in the absence of any transitivity assumption. Complete preference relations satisfying Cardinal Coordinate Independence are shown to be already rather well-behaved. Under a suitable necessary order denseness assumption, they may always be represented using a simple numerical model.
Disciplines :
Mathematics
Author, co-author :
Bouyssou, D.
Pirlot, Marc  ;  Université de Mons > Faculté Polytechnique > Mathématique et Recherche opérationnelle
Language :
English
Title :
A note on Wakker's cardinal coordinate independence
Publication date :
01 January 2004
Journal title :
Mathematical Social Sciences
ISSN :
0165-4896
Publisher :
Elsevier, Netherlands
Issue :
48
Pages :
11-22
Peer reviewed :
Peer Reviewed verified by ORBi
Research unit :
F151 - Mathématique et Recherche opérationnelle
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