A functional equation arising from ranked additive and separable utility

János Aczél, Gyula Maksa, Che Tat Ng, Zsolt Páles

Research output: Contribution to journalArticle

9 Citations (Scopus)

Abstract

All strictly monotonie solutions of a general functional equation are determined. In a particular case, which plays an essential role in the axiomatization of rank-dependent expected utility, all nonnegative solutions are obtained without any regularity conditions. An unexpected possibility of reduction to convexity makes the present proof possible.

Original languageEnglish
Pages (from-to)989-998
Number of pages10
JournalProceedings of the American Mathematical Society
Volume129
Issue number4
DOIs
Publication statusPublished - Jan 1 2001

Keywords

  • Binary gamble
  • Convexity
  • Functional equation
  • Rank-dependent expected utility

ASJC Scopus subject areas

  • Mathematics(all)
  • Applied Mathematics

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