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On the existence of undominated alternatives in convex sets

Author

Listed:
  • Nikolai S. Kukushkin

    (Dorodnicyn Computing Centre, FRC CSC RAS; Moscow Institute of Physics and Technology, Russia)

Abstract

Necessary and sufficient conditions are found for an interval order to admit a maximizer in every convex, or convex and compact, subset of its domain. The conditions are formulated in terms of "improvement paths" and are somewhat similar to conditions characterizing interval orders admitting a maximizer in every compact subset. For a stronger, "von Neumann-Morgenstern," property - every dominated alternative is dominated by an undominated one - only a sufficient condition is obtained.

Suggested Citation

  • Nikolai S. Kukushkin, 2019. "On the existence of undominated alternatives in convex sets," Economics Bulletin, AccessEcon, vol. 39(3), pages 2129-2136.
    • Handle: RePEc:ebl:ecbull:eb-19-00520
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    File URL: http://www.accessecon.com/Pubs/EB/2019/Volume39/EB-19-V39-I3-P199.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Preference relation; Interval order; Maximal element; Necessary and sufficient condition;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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