A general extension result with applications to convexity, homotheticity and monotonicity
A well-known result in the theory of binary relations states that a binary relation has a complete and transitive extension if and only if it is consistent ([Suzumura K., 1976. Remarks on the theory of collective choice, Economica 43, 381-390], Theorem 3). A relation is consistent if the elements in the transitive closure are not in the inverse of the asymmetric part. We generalize this result by replacing the transitive closure with a more general function. Using this result, we set up a procedure which leads to existence results for complete extensions satisfying various additional properties. We demonstrate the usefulness of this procedure by applying it to the properties of convexity, homotheticity and monotonicity.
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- BOSSERT, Walter & SPRUMONT, Yves, 2001.
Cahiers de recherche
2001-01, Universite de Montreal, Departement de sciences economiques.
- Paolo Scapparone, 1999. "Existence of a convex extension of a preference relation," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 22(1), pages 5-11, March.
- Suzumura, Kataro, 1976. "Remarks on the Theory of Collective Choice," Economica, London School of Economics and Political Science, vol. 43(172), pages 381-90, November.
- Donaldson, David & Weymark, John A., 1998. "A Quasiordering Is the Intersection of Orderings," Journal of Economic Theory, Elsevier, vol. 78(2), pages 382-387, February.
- Duggan, John, 1999. "A General Extension Theorem for Binary Relations," Journal of Economic Theory, Elsevier, vol. 86(1), pages 1-16, May.
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