A Model of Procedural Decision Making in the Presence of Risk*
提出一个风险选择的程序性模型,个体拥有可能高度不完全的核心偏好关系,并基于独立性公理通过程序推导出更多备选方案的排序。该模型可用一组冯·诺伊曼-摩根斯坦效用函数表示,允许偏好关系不完全,并给出了随机占优排序的新刻画。
We introduce a procedural model of risky choice in which an individual is endowed with a core preference relation that may be highly incomplete. She can, however, derive further rankings of alternatives from her core preferences by means of a procedure based on the independence axiom. We find that the preferences that are generated from an initial set of rankings according to this procedure can be represented by means of a set of von Neumann–Morgenstern utility functions, thereby allowing for incompleteness of preference relations. The proposed theory also yields new characterizations of the stochastic dominance orderings.