A Characterization of Cesàro Average Utility

36 Pages Posted: 7 Oct 2020 Last revised: 20 Nov 2020

See all articles by Marcus Pivato

Marcus Pivato

THEMA, CY Cergy Paris Université

Date Written: November 5, 2020

Abstract

Let X be a connected metric space, let N be the set of natural numbers, and let > be a preference order defined on a suitable subset of X^N. I characterize when > has a Cesàro average utility representation. This means that there is a continuous function u from X into the real numbers, such that one sequence in X^N is preferred to another sequence if it yields a higher limit, as n goes to infinity, of the average utility over the first n terms in the sequence. This has applications to decision theory and inter-generational social choice.

Keywords: Subjective Expected Utility; Insufficient Reason; Inter-Temporal Choice; Complete Patience; Inter-Generational Social Choice; Cesàro Mean

JEL Classification: D81, D63, D71

Suggested Citation

Pivato, Marcus, A Characterization of Cesàro Average Utility (November 5, 2020). Available at SSRN: https://ssrn.com/abstract=3677206 or http://dx.doi.org/10.2139/ssrn.3677206

Marcus Pivato (Contact Author)

THEMA, CY Cergy Paris Université ( email )

33 Boulevard du Port
Cergy-Pontoise Cedex, Cedex 95011
France

HOME PAGE: http://https://sites.google.com/site/marcuspivato/

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