Mongin, Philippe and Pivato, Marcus (2012): Ranking Multidimensional Alternatives and Uncertain Prospects.

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Abstract
We introduce a twostage ranking of multidimensional alternatives, including uncertain prospects as particular case, when these objects can be given a suitable matrix form. The first stage defines a ranking of rows and a ranking of columns, and the second stage ranks matrices by applying natural monotonicity conditions to these auxiliary rankings. Owing to the DebreuGorman theory of additive separability, this framework is sufficient to generate very precise numerical representations. We apply them to three main types of multidimensional objects: streams of commodity baskets through time, monetary inputoutput matrices, and most extensively, uncertain prospects either in a social or an individual context of decision. Among other applications, the new approach delivers the strongest existing form of Harsanyi's (1955) Aggregation Theorem and casts light on the classic comparison between the ex ante and ex post Pareto principle. It also provides a novel derivation of subjective probability from preferences, in the style of Anscombe and Aumann (1963).
Item Type:  MPRA Paper 

Original Title:  Ranking Multidimensional Alternatives and Uncertain Prospects 
Language:  English 
Keywords:  additively separable; multiattribute decisions; utilitarian; social welfare; social aggregation; ex ante Pareto; inputoutput matrix; subjective expected utility 
Subjects:  D  Microeconomics > D8  Information, Knowledge, and Uncertainty > D81  Criteria for DecisionMaking under Risk and Uncertainty D  Microeconomics > D5  General Equilibrium and Disequilibrium > D57  InputOutput Tables and Analysis D  Microeconomics > D6  Welfare Economics > D60  General 
Item ID:  42515 
Depositing User:  Marcus Pivato 
Date Deposited:  12 Nov 2012 10:51 
Last Modified:  21 Sep 2016 14:15 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/42515 