Monotone Additive Statistics

Mu, Xiaosheng and Pomatto, Luciano and Strack, Philipp and Tamuz, Omer (2022) Monotone Additive Statistics. In: Proceedings of the 23rd ACM Conference on Economics and Computation. Association for Computing Machinery , New York, NY, p. 34. ISBN 978-1-4503-9150-4. https://resolver.caltech.edu/CaltechAUTHORS:20210303-154811036

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Abstract

The expectation is an example of a descriptive statistic that is monotone with respect to stochastic dominance, and additive for sums of independent random variables. We provide a complete characterization of such statistics, and explore a number of applications to models of individual and group decision-making. These include a representation of stationary, monotone time preferences, extending the work of Fishburn and Rubinstein (1982) to time lotteries, as well as a characterization of risk-averse preferences over monetary gambles that are invariant to mean-zero background risks.

Item Type:

Book Section

Related URLs:

URL	URL Type	Description
https://doi.org/10.1145/3490486.3538318	DOI	Article
https://arxiv.org/abs/2102.00618	arXiv	Discussion Paper

ORCID:

Author	ORCID
Mu, Xiaosheng	0000-0002-2868-5182
Pomatto, Luciano	0000-0002-4331-8436
Strack, Philipp	0000-0002-7960-9243
Tamuz, Omer	0000-0002-0111-0418

Additional Information:

© 2022 Copyright held by the owner/author(s). Philipp Strack was supported by a Sloan fellowship. Omer Tamuz was supported by a grant from the Simons Foundation (#419427), a Sloan fellowship, a BSF award (#2018397) and a National Science Foundation CAREER award (DMS-1944153).

Funders:

Funding Agency	Grant Number
Alfred P. Sloan Foundation	UNSPECIFIED
Simons Foundation	419427
Binational Science Foundation (USA-Israel)	2018397
NSF	DMS-1944153

Subject Keywords:

statistics, stationary preferences, stochastic dominance

DOI:

10.1145/3490486.3538318

Record Number:

CaltechAUTHORS:20210303-154811036

Persistent URL:

https://resolver.caltech.edu/CaltechAUTHORS:20210303-154811036

Official Citation:

Xiaosheng Mu, Luciano Pomatto, Philipp Strack, and Omer Tamuz. 2022. Monotone Additive Statistics. In Proceedings of the 23rd ACM Conference on Economics and Computation (EC ’22), July 11–15, 2022, Boulder, CO, USA. ACM, New York, NY, USA, 1 page. https://doi.org/10.1145/3490486.3538318

Usage Policy:

No commercial reproduction, distribution, display or performance rights in this work are provided.

ID Code:

108299

Collection:

CaltechAUTHORS

Deposited By:

Tony Diaz

Deposited On:

04 Mar 2021 00:00

Last Modified:

27 Jul 2022 22:40

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