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- '''Maximal lotteries''' are a [[fractional social choice|probabilistic voting rule]] that use [[ ...f name="Bran13a" /> The [[social welfare function]] that top-ranks maximal lotteries has been uniquely characterized using Arrow's [[independence of irrelevant ...10 KB (1,423 words) - 03:34, 8 January 2025
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- ...er uncertainty]] involves characterizing the available choices in terms of lotteries. In [[economics]], individuals are assumed to rank lotteries according to a [[rational choice theory|rational system of preferences]], a ...8 KB (1,143 words) - 11:42, 12 January 2025
- '''Maximal lotteries''' are a [[fractional social choice|probabilistic voting rule]] that use [[ ...f name="Bran13a" /> The [[social welfare function]] that top-ranks maximal lotteries has been uniquely characterized using Arrow's [[independence of irrelevant ...10 KB (1,423 words) - 03:34, 8 January 2025
- ...en 1993 and 2010 she collected winnings in excess of US$2 million in state lotteries, to a grand total of {{US$|20.4 million}}. * [[Lotteries in the United States]] ...3 KB (403 words) - 09:36, 15 December 2024
- ...n <math>u(x_1,...,x_n)</math> which represents the person's preferences on lotteries of bundles. I.e, lottery A is preferred over lottery B if and only if the e ...and 2, are called ''additive independent'', if the preference between two lotteries (defined as joint probability distributions on the two attributes) depends ...15 KB (2,398 words) - 12:58, 12 August 2024
- ...st1=George E. |last2=Mochon |first2=Daniel |date=2012-01-01 |title=Why are lotteries valued less? Multiple tests of a direct risk-aversion mechanism |url=https: === Aversion to lotteries === ...11 KB (1,687 words) - 20:57, 28 September 2024
- ...s assumption and assumes only that agents have preferences on equal-chance lotteries (i.e., they can only answer questions of the form: "Do you prefer A over an Formally, there is a set <math>S</math> of sure choices. The set of lotteries is <math>S\times S</math>. Debreu's theorem states that if: ...14 KB (2,431 words) - 09:37, 11 March 2024
- ...to explain the fact that people purchase both [[insurance]] and [[Lottery|lotteries]]. ...7 KB (970 words) - 14:29, 4 February 2025
- ...an individual agent is faced with options called [[Lottery (probability)|''lotteries'']]. Given some [[mutually exclusive]] outcomes, a lottery is a scenario wh The outcomes in a lottery can themselves be lotteries between other outcomes, and the expanded expression is considered an equiva ...20 KB (3,145 words) - 05:35, 27 February 2025
- == Fair division of ticket lotteries == ...ernatives.<ref name=":2">{{cite book |doi=10.1145/3490486.3538312 |chapter=Lotteries for Shared Experiences |title=Proceedings of the 23rd ACM Conference on Eco ...21 KB (3,041 words) - 05:40, 26 February 2024
- ...le, suppose there are four outcomes ranked z > y > x > w. Consider the two lotteries that assign to z, y, x, w the following probabilities: ...5 KB (758 words) - 22:21, 7 August 2023
- ...rategy%20Proofness%5b1%5d.pdf Strategy proofness of voting procedures with lotteries as outcomes and infinite sets of strategies], 1980.</ref> which extend thes ...13 KB (1,940 words) - 08:20, 17 January 2025
- ...n how voters rank mixtures. This requires a [[stochastic ordering]] on the lotteries. Several such orderings exist; the most common in social choice theory, in '''[[Maximal lotteries]]''' - a rule based on pairwise comparisons of alternatives. For any two al ...12 KB (1,767 words) - 02:59, 8 August 2024
- ...ly assessed in experiments checking subjects' preferences over [[Lottery|''lotteries'']]. Two general types of procedures have been used:<ref name=":0" /> ...asked "for what value of ''x'', would you be indifferent between these two lotteries?". Each such question yields an equation of the form <math>\sum_i p_{1,i} u ...21 KB (2,946 words) - 17:49, 21 February 2025
- ...have [[Von Neumann-Morgenstern utilities]] over random allocations, i.e., lotteries over objects (Note that ex-ante envy-freeness is ''weaker'' than ex-post en ...7 KB (1,068 words) - 12:50, 26 March 2023
- ...or interpersonal comparability. Starting from individual preferences over lotteries, which are assumed to satisfy the [[Von Neumann–Morgenstern utility theorem ...where both before and after the change, the "irrelevant" alternatives are lotteries on the other alternatives. ...30 KB (4,302 words) - 04:43, 30 January 2025
- ...etting, each agent receives a ''lottery'' over the items; an allocation of lotteries is called ex-ante envy-free if no agent prefers the lottery of another agen ...11 KB (1,583 words) - 04:27, 24 August 2023
- ...lity function that measures their preferences over [[Lottery (probability)|lotteries]]. ...19 KB (2,964 words) - 21:10, 25 December 2024
- ...11.pdf }}</ref> studies stochastic utility theory based on choices between lotteries. The input is a set of ''choice probabilities'', which indicate the likelih ...17 KB (2,394 words) - 22:21, 26 January 2025
- ...04-4068}}</ref> studies stochastic utility theory based on choices between lotteries. The input is a set of ''choice probabilities'', which indicate the likelih ...19 KB (2,642 words) - 10:48, 26 December 2024
- ...s or losses, and are frequently associated with monetary rewards involving lotteries.<ref>{{Citation |last1=Harrison |first1=Glenn W. |title=Risk Aversion in th ...23 KB (3,148 words) - 21:43, 18 October 2024