A note on cancellation axioms for comparative probability

A note on cancellation axioms for comparative probability

We prove that the generalized cancellation axiom for incomplete comparative probability relations introduced by Ríos Insua (Theory Decis 33:83–100, 1992 ) and Alon and Lehrer (J Econ Theory 151:476–492, 2014 ) is stronger than the standard cancellation axiom for complete comparative probability rela...

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Veröffentlicht in:Theory and decision 2016-01, Vol.80 (1), p.159-166
Hauptverfasser: Harrison-Trainor, Matthew, Holliday, Wesley H., Icard, Thomas F.
Format: Artikel
Sprache:eng
Schlagworte:
Algebra
Axioms
Behavioral/Experimental Economics
Cancellation
Decision making
Decision theory
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Finance
Game Theory
Insurance
Management
Mathematical analysis
Operations Research/Decision Theory
Probability
Social and Behav. Sciences
Statistics for Business
Studies
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Zusammenfassung:We prove that the generalized cancellation axiom for incomplete comparative probability relations introduced by Ríos Insua (Theory Decis 33:83–100, 1992 ) and Alon and Lehrer (J Econ Theory 151:476–492, 2014 ) is stronger than the standard cancellation axiom for complete comparative probability relations introduced by Scott (J Math Psychol 1:233–247, 1964 ), relative to their other axioms for comparative probability in both the finite and infinite cases. This result has been suggested but not proved in the previous literature.
ISSN:0040-5833
1573-7187
DOI:10.1007/s11238-015-9491-2