On the choice of most-preferred alternatives
AbstractMaximal elements of a binary relation on compact subsets of a metric space define a choice function. Necessary and sufficient conditions are found for: (1) the choice function to have nonempty values and be path independent; (2) the choice function to have nonempty values provided the underlying relation is an interval order. For interval orders and semiorders, the same properties are characterized in terms of representations in a chain.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 803.
Date of creation: 09 Nov 2006
Date of revision:
Maximal element; Path independence; Interval order; Semiorder;
Find related papers by JEL classification:
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-11-25 (All new papers)
- NEP-DCM-2006-11-25 (Discrete Choice Models)
- NEP-UPT-2006-11-25 (Utility Models & Prospect Theory)
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- Walker, Mark, 1977. "On the existence of maximal elements," Journal of Economic Theory, Elsevier, vol. 16(2), pages 470-474, December.
- Campbell, Donald E. & Walker, Mark, 1990. "Maximal elements of weakly continuous relations," Journal of Economic Theory, Elsevier, vol. 50(2), pages 459-464, April.
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- Mukherji, Anjan, 1977. "The Existence of Choice Functions," Econometrica, Econometric Society, vol. 45(4), pages 889-94, May.
- Kukushkin, Nikolai S., 2008. "Maximizing an interval order on compact subsets of its domain," Mathematical Social Sciences, Elsevier, vol. 56(2), pages 195-206, September.
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