A new axiomatization of portfolio theory

https://doi.org/10.1016/0022-2496(78)90033-0Get rights and content

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.

References (3)

  • C.H Coombs

    Portfolio theory: A theory of risky decision making

    Coombs, C. H. Portfolio theory and the measurement of risk. Michigan Mathematical Psychology Program technical report...
There are more references available in the full text version of this article.

Cited by (5)

  • Ordering orders

    1998, Mathematical social sciences
  • A Reaxiomatization of Portfolio Theory

    1994, Journal of Mathematical Psychology
View full text