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Choice functions and weak Nash axioms

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  • Susumu Cato

    (The University of Tokyo)

Abstract

The Nash axiom is a basic property of consistency in choice. This paper proposes weaker versions of the axiom and examines their logical implications. In particular, we demonstrate that weak Nash axioms are useful to understand the relationship between the Nash axiom and the path independence axiom. We provide an application of weak Nash axioms to the no-envy approach. We present a possibility result and an impossibility result.

Suggested Citation

  • Susumu Cato, 2018. "Choice functions and weak Nash axioms," Review of Economic Design, Springer;Society for Economic Design, vol. 22(3), pages 159-176, December.
    • Handle: RePEc:spr:reecde:v:22:y:2018:i:3:d:10.1007_s10058-018-0215-2
    DOI: 10.1007/s10058-018-0215-2
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    References listed on IDEAS

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    More about this item

    Keywords

    Choice function; Rational behavior; Nash axiom; No-envy; Path-independence; Menu-dependent preference;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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