Scalarization methods and expected multi-utility representations

TL;DR: In this article, a utility representation of all preferences over monetary lotteries that satisfy Negative Certainty Independence together with basic rationality postulates is presented, which can be represented as if the agent were unsure of how risk averse to be when evaluating a lottery p; instead, she has in mind a set of possible utility functions over outcomes and displays a cautious behavior: she computes the certainty equivalent of p with respect to each possible function in the set and picks the smallest one.

TL;DR: In this article, the authors propose and operationalize normative principles to guide social decisions when individuals potentially have imprecise and heterogeneous beliefs, in addition to conflicting tastes or interests.

TL;DR: The coalitional minmax expected utility representation (CUMU) as discussed by the authors is a generalization of the expected utility theorem, and it can be used to answer many economic questions, such as the maximization of preferences, the existence of Nash equilibrium, the preference for portfolio diversification, and the possibility of the preference reversal phenomenon.

TL;DR: In this paper, the existence of a Richter-Peleg multi-utility representation of a preorder by means of upper semicontinuous or continuous functions is discussed in connection with the presence of a RPE.

TL;DR: In this paper, the authors explore the fundamental problem of what can be inferred about the outcome of a non-cooperative game, from the rationality of the players and from the information they possess.

TL;DR: This paper argued that rationality consists of making a decision which is justifiable by an internally consistent system of beliefs, rather than one which is optimal, post hoc, in a noncooperative game.

TL;DR: The Krein-Milman theorem as an integral representation theorem has been applied to the metrizable case of the Choquet boundary as mentioned in this paper, and it has been used to define a new set of integral representation theorems for monotonic functions.