An impossibility theorem with von Neumann-Morgenstern preferences

Dhillon, A;Mertens, Jean-François
(1997) Economics Letters — Vol. 56, n° 3, p. 305-309 (1997)

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Authors
  • Dhillon, A
    Author
  • Mertens, Jean-FrançoisUCLouvain
    Author
Abstract
We prove an impossibility theorem in the context of VNM preferences when Pareto and an analogue of Maskin's Monotonicity are used. We show the crucial weakening required to avoid this. (C) 1997 Elsevier Science S.A.
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Dhillon, A., & Mertens, J.-F. (1997). An impossibility theorem with von Neumann-Morgenstern preferences. Economics Letters, 56(3), 305-309. https://doi.org/10.1016/S0165-1765(97)00191-2 (Original work published 1997)