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 InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 01-05.
Length: 9 pages
Date of creation: May 2001
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Maximal Elements; Binary Relations; Lexicographic Relations;
Other versions of this item:
- Hougaard, Jens Leth & Tvede, Mich, 2001. "The existence of maximal elements: generalized lexicographic relations," Journal of Mathematical Economics, Elsevier, vol. 36(2), pages 111-115, November.
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-10-22 (All new papers)
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2003-31, University of Connecticut, Department of Economics.
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