Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/242543 
Authors: 
Year of Publication: 
2016
Series/Report no.: 
Economics Working Paper Series No. 2016/04
Publisher: 
Auckland University of Technology (AUT), Faculty of Business, Economics and Law, Auckland
Abstract: 
Scalability refers to the existence of a utility scale on alternatives, with respect to which binary choice probabilities are suitably monotone. This is a fundamental concept in psychophysical theory (Falmagne, 1985). We introduce a new notion of scalability which we call strict scalability, and establish axiomatic foundations for this concept. Strict scalability lies between the classical notion of simple scalability, which was axiomatised by Tversky and Russo (1969), and the weaker notion of monotone scalability, which was axiomatised by Fishburn (1973). When the set of alternatives is countable, a binary choice probability is strictly scalable if and only if it satis?es the familiar condition of weak substitutability.
Document Type: 
Working Paper

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