Abstract
Yaari’s theorem on the integral representation of a (non-expected-utility) preference relation on random variables is presented in a more general setting. Furthermore, in the risk averse case, concavity of these preferences is established. The essential tool is a fundamental inequality for Lorenz functions of distributions.
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© 1991 Springer Science+Business Media Dordrecht
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Denneberg, D. (1991). On Non-Expected-Utility Preferences. In: Chikán, A. (eds) Progress in Decision, Utility and Risk Theory. Theory and Decision Library, vol 13. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-3146-9_5
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DOI: https://doi.org/10.1007/978-94-011-3146-9_5
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-5387-7
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