"Making book against oneself," the Independence Axiom, and Nonlinear Utility Theory

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dc.contributor.author	Green, Jerry
dc.date.accessioned	2009-08-04T20:01:38Z
dc.date.issued	1987
dc.identifier.citation	Green, Jerry. 1987. "Making book against oneself," the independence axiom, and nonlinear utility theory. Quarterly Journal of Economics 102(4): 785-796.	en
dc.identifier.issn	0033-5533	en
dc.identifier.issn	1531-4650	en
dc.identifier.uri	http://nrs.harvard.edu/urn-3:HUL.InstRepos:3203640
dc.description.abstract	An individual with known preferences over lotteries can be led to accept random wealth distributions different from his initial endowment by a sequential process in which some uncertainty is resolved and he is offered a new lottery in place of the remaining uncertainty. This paper examines the restrictions that can be placed on an individual's preferences by axioms that stipulate that such a process not be able to generate a new wealth distribution that is <i>prima facie</i> inferior to the original. The relationship of these axioms to the independence axiom of von Neumann and Morgenstern and to the quasi convexity of preferences in the wealth distribution are explored.	en
dc.description.sponsorship	Economics	en
dc.language.iso	en_US	en
dc.publisher	MIT Press	en
dc.relation.isversionof	http://dx.doi.org/10.2307/1884281	en
dash.license	LAA
dc.title	"Making book against oneself," the Independence Axiom, and Nonlinear Utility Theory	en
dc.relation.journal	Quarterly Journal of Economics	en
dash.depositing.author	Green, Jerry

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