Anticomonotonicity for preference axioms: The natural counterpart to comonotonicity
研究了随机变量反共单调性（反向变化）如何最小化杠杆而非对冲机会，并证明其对传统公理的约束强化了经典模型的基础，如线性泛函、期望效用和无套利定价。
Comonotonicity (same variation) of random variables minimizes hedging possibilities and has been widely used, e.g., in Gilboa and Schmeidler's ambiguity models. This paper investigates anticomonotonicity (opposite variation (AC)), the natural counterpart to comonotonicity. It minimizes leveraging rather than hedging possibilities. Surprisingly, AC restrictions of several traditional axioms do not give new models. Instead, they strengthen the foundations of existing classical models: (a) linear functionals through Cauchy's equation; (b) Anscombe–Aumann expected utility; (c) as‐if risk‐neutral pricing through no‐arbitrage; (d) de Finetti's bookmaking foundation of Bayesianism using subjective probabilities; (e) risk aversion in Savage's subjective expected utility. In each case, our generalizations show where the critical tests of classical axioms lie, i.e., in the AC cases (maximal hedges). We next present examples where AC restrictions do essentially weaken existing axioms, and do provide new properties and new models.