The existence of maximal elements: generalized lexicographic relations
AbstractIn the present paper, the existence of maximal elements for binary relations are studied. Generalized lexicographic relations are introduced, and some results on existence of maximal elements are provided. A simple example shows that economies with "lexicographic consumers" need not have equilibria even though demand functions associated with generalized lexicographic relations may be continuous for positive prices.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 36 (2001)
Issue (Month): 2 (November)
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Web page: http://www.elsevier.com/locate/jmateco
Other versions of this item:
- Jens Leth Hougaard & Mich Tvede, 2001. "The Existence of Maximal Elements: Generalized Lexicographic Relations," Discussion Papers 01-05, University of Copenhagen. Department of Economics.
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
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