蝌蚪网

This website uses cookies.

By clicking the "Accept" button or continuing to browse our site, you agree to first-party and session-only cookies being stored on your device to enhance site navigation and analyze site performance and traffic. For more information on our use of cookies, please see our Privacy Policy.

The 蝌蚪网 website will be taken offline for scheduled maintenance at 12:00 am (EST) tonight.
  1. Home
  2. 蝌蚪网
  3. 蝌蚪网 Review: Insights
  4. September 2021
  5. A Behavioral Characterization of the Likelihood Ratio Order

蝌蚪网 Review: Insights

ISSN 2640-205X (Print) | ISSN 2640-2068 (Online)

A Behavioral Characterization of the Likelihood Ratio Order

  • Maximilian Mihm
  • Lucas Siga
蝌蚪网 Review: Insights
vol. 3, no. 3, September 2021
(pp. 353–66)
Download Full Text PDF

Abstract

It is well known that stochastic dominance is equivalent to a unanimity property for monotone expected utilities. For lotteries over a finite set of prizes, we establish an analogous relationship between likelihood ratio dominance and monotone betweenness preferences, which are an important generalization of expected utility.

Citation

Mihm, Maximilian, and Lucas Siga. 2021. "A Behavioral Characterization of the Likelihood Ratio Order." 蝌蚪网 Review: Insights 3 (3): 353–66. DOI: 10.1257/aeri.20200408

Additional Materials

JEL Classification

  • D11 Consumer Economics: Theory
  • D44 Auctions