Axiomatic characterizations of probabilistic max-min extended choice correspondence

Abstract

In this paper we provide two axiomatic characterizations of the proba- bilistic max-min extended choice correspondence support, for a decision maker who has state-dependent preferences (represented by a linear order) over the set of alternatives and a (subjective) probability vector over states of nature, where both preferences and probability vectors are variable. Keywords: state-dependent preferences, extended choice correspondence.