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Lexicographic Preferences over Random Availability Functions

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  • Somdeb Lahiri

Abstract

We provide an axiomatic characterization of lexicographic preferences over the set of all random availability functions using two assumptions. The first assumption is strong monotonicity, which in our framework is equivalent to the strong dominance property in microeconomics. The second assumption is independence of worse alternatives and we show that a weaker version of the same suffices for our purpose.

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  • Somdeb Lahiri, 2025. "Lexicographic Preferences over Random Availability Functions," Papers 2505.12997, arXiv.org.
    • Handle: RePEc:arx:papers:2505.12997
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    1. Peter C. Fishburn, 1975. "Axioms for Lexicographic Preferences," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 42(3), pages 415-419.
    2. Mitra, Manipushpak & Sen, Debapriya, 2014. "An alternative proof of Fishburn’s axiomatization of lexicographic preferences," Economics Letters, Elsevier, vol. 124(2), pages 168-170.
    3. Petri, Henrik & Voorneveld, Mark, 2016. "Characterizing lexicographic preferences," Journal of Mathematical Economics, Elsevier, vol. 63(C), pages 54-61.
    4. Somdeb Lahiri, 2025. "Numerical Representation of Preferences over Random Availability Functions," Papers 2504.18863, arXiv.org, revised May 2025.
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