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Ascending Probabilistic Max-min Extended Choice Correspondence

100%
Lahiri S.
Przegląd Statystyczny
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2023
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vol. 70
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issue 1
1-12
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.
2
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Axiomatic characterizations of probabilistic max-min extended Coice Correspondence

100%
Lahiri S.
Multiple Criteria Decision Making
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2022
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vol. 17
87-101
EN
In this paper we provide two axiomatic characterizations of the probabilistic max-min extended choice correspondence support, for a decision maker who has state-dependent preferences (represented by a linear order) over the set of alternatives and a (subjective) probability vector over states of nature, where both preferences and probability vectors are variable.
3
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A statistical interpretation of a market demand curve for a commodity obeying the law of demand

100%
Lahiri S.
Managerial Economics
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2023
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vol. 24
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issue 1
27-38
EN
In this note we provide a statistical interpretation of the Marshallian market demand curve of a commodity that obeys the law of demand and which has a finite and positive level of satiation. A consequence of our approach is that in the context of two goods, we are able to obtain demand functions which are very similar to those obtained by “budget-constrained Cobb–Douglas utility maximization”, but now as a result of a “budget-constrained linear utility maximization” exercise, although our budget constraint is “slightly different” from the one that would be used for the former optimization problem.
4
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The St. Petersburg paradox with state dependent linear utility functions for monetary returns. A note

100%
Lahiri S.
Managerial Economics
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2024
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vol. 25
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issue 2
133-140
EN
In the experiment underlying the St. Petersburg paradox, we use state-dependent linear utility functions for money with a countably infinite set of states of nature to show that a potential participant will be willing to pay no more than a finite sum of money to participate in the experiment.
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