Ascending Probabilistic Max-min Extended Choice Correspondence

• Autorzy: Somdeb Lahiri
• Języki publikacji: EN

Abstrakty

EN

In this paper, we provide an axiomatic characterization of the ascending probabilistic max-min extended choice correspondence for a decision-maker who has state-dependent preferences (represented by a linear order) over a set of alternatives and a (subjective) probability vector over states of nature, where both the preferences and probability vectors are variable. Further on the domain of all extended preference profiles for which the Ascending Probabilistic Max-Min Extended Choice Correspondence is resolute, the same choice correspondence is completely characterized by just two of the three axioms that are required for the axiomatic characterization on the more general domain. A significant feature of our solution concept and the related axiomatic analysis is that we use no more information than the probability with which each alternative realizes each rank(original abstract)

Słowa kluczowe

EN

Decision making under conditions of risk; Preferences

PL

Podejmowanie decyzji w warunkach ryzyka; Preferencje

• Czasopismo: Przegląd Statystyczny
• Rocznik: 2023
• Tom: 70
• Numer: z. 1
• Strony: 1--12

Twórcy

autor

Somdeb Lahiri

• Pandit Deendayal Energy University, Knowledge Corridor, Raisan Village

Bibliografia

• Aleskerov, F., & Subochev, A. (2013). Modelling optimal social choice: matrix-vector representation of various solution concepts based on majority rule. Journal of Global Optimization, 56(2), 737-756. https://doi.org/10.1007/s10898-012-9907-2.
• Campbell, D. E., Kelly, J. S., & Qi, S. (2018). A stability property in social choice theory. International Journal of Economic Theory, 14(1), 85-95. https://doi.org/10.1111/ijet.12141.
• Denicolo, V. (1985). Independent social choice correspondences are dictatorial. Economics Letters, 19(1), 9-12. https://doi.org/10.1016/0165-1765(85)90092-8.
• Endriss, U. (2011). Logic and Social Choice Theory. In A. Gupta & J. van Benthem (Eds.), Logic and Philosophy Today (vol. 2, pp. 333-378). College Publications. https://pure.uva.nl/ws/files/1378273/109298_355588.pdf.
• Lahiri, S. (2020). Generalized Sen-Coherence and Existence of Preferred With Probability At Least Half Winners. International Journal of Operations Research, 17(3), 93-99. https://dx.doi.org/10.2139/ssrn.3314156.
• Lahiri, S. (2020/2021). Extended choice correspondences & an axiomatic characterization of the probabilistic Borda rule. m2ef - Mathematical Methods in Economics and Finance, 15/16(1), 15- 34. https://www.unive.it/pag/fileadmin/user_upload/dipartimenti/economia/doc/Pubblicazioni_scientifiche/m2ef/2020_2021/08-Lahiri-m2ef-2020_2021.pdf.
• Lahiri, S. (2021). Pattanaik's Axioms and The Existence Of Winners Preferred With Probability At Least Half. Operations Research and Decisions, 31(2), 109-122. https://doi.org/10.37190/ord210205.
• Lahiri, S. (2022). Axiomatic Characterizations of Probabilistic Max-min Extended Choice Correspondence. Multiple Criteria Decision Making, 17, 87-101. https://doi.org/10.22367/mcdm.2022.17.05

Identyfikatory

DOI

10.59139/ps.2023.01.2