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).