Universal interactive preferences

Abstract

We prove that a universal preference type space exists under more general conditions than those postulated by Epstein and Wang (1996). To wit, it suffices that preferences can be encoded monotonically in rich enough ways by collections of continuous, monotone real-valued functionals over acts, which determine—even in discontinuous fashion—the preferences over limit acts. The proof relies on a generalization of the method developed by Heifetz and Samet (1998a).