A new axiomatization of portfolio theory

Jan P.H. van Santen

Research output: Contribution to journalArticle

5 Scopus citations

Abstract

An axiomatization proposed by Coombs 1974 is shown to be insufficient for the representation of gambles in a risk × expected value space as described by Portfolio Theory. A new axiom system is given which is necessary and sufficient for this representation, and which implies the old axiomatization.

Original languageEnglish (US)
Pages (from-to)14-20
Number of pages7
JournalJournal of Mathematical Psychology
Volume17
Issue number1
DOIs
StatePublished - Feb 1978

ASJC Scopus subject areas

  • Psychology(all)
  • Applied Mathematics

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