The existence of maximal elements: generalized lexicographic relations
In 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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- Fishburn, Peter C, 1975. "Axioms for Lexicographic Preferences," Review of Economic Studies, Wiley Blackwell, vol. 42(3), pages 415-19, July.
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Working Papers. Serie AD
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- Michael Lockwood, 1999. "Preference Structures, Property Rights, and Paired Comparisons," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 13(1), pages 107-122, January.
- Tian, Guoqiang, 1993. "Necessary and Sufficient Conditions for Maximization of a Class of Preference Relations," Review of Economic Studies, Wiley Blackwell, vol. 60(4), pages 949-58, October.
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