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Weighted utility theory with incomplete preferences

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  • Karni, Edi
  • Zhou, Nan

Abstract

This paper axiomatizes the representations of weighted utility theory with incomplete preferences. These include the general multiple weighted utility representation as well as special cases of multiple utilities or multiple weights only. Some behavioral implications are explored in the context of a portfolio selection problem, which illustrates the potential applicability of such models to a range of problems.

Suggested Citation

  • Karni, Edi & Zhou, Nan, 2021. "Weighted utility theory with incomplete preferences," Mathematical Social Sciences, Elsevier, vol. 113(C), pages 116-135.
    • Handle: RePEc:eee:matsoc:v:113:y:2021:i:c:p:116-135
    DOI: 10.1016/j.mathsocsci.2021.05.005
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    References listed on IDEAS

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    Cited by:

    1. Robert G. Chambers & Tigran Melkonyan & John Quiggin, 2022. "Incomplete preferences, willingness to pay, and willingness to accept," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 74(3), pages 727-761, October.
    2. Edi Karni, 2024. "Irresolute choice behavior," International Journal of Economic Theory, The International Society for Economic Theory, vol. 20(1), pages 70-87, March.

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