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On Non-binary Personal Preferences in Society, Economic Theory and Racial Discrimination

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  • Naqvi, Nadeem

Abstract

This paper examines some of the consequences for economic theory of the replacement of binary personal preferences by non-binary personal preferences in an Arrow-Debreu society as in Debreu (1959), and reaches the conclusion that there is both much damage to existing theory and greater opportunity for providing formal explanations of such phenomena as discrimination, personal freedoms and power, among others, which are impossible to explain at a formal level on the basis of an economic theory that is founded on a choice theory that is based exclusively on binary relational personal preferences.

Suggested Citation

  • Naqvi, Nadeem, 2010. "On Non-binary Personal Preferences in Society, Economic Theory and Racial Discrimination," MPRA Paper 21522, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:21522
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    File URL: https://mpra.ub.uni-muenchen.de/21522/2/MPRA_paper_21522.pdf
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    References listed on IDEAS

    as
    1. Kelsey, David & Yalcin, Erkan, 2007. "The arbitrage pricing theorem with incomplete preferences," Mathematical Social Sciences, Elsevier, vol. 54(1), pages 90-105, July.
    2. Kenneth J. Arrow, 1998. "What Has Economics to Say about Racial Discrimination?," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 91-100, Spring.
    3. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Berdellima, Arian & Naqvi, Nadeem, 2011. "Existence of a Pareto optimal social interaction outcome with non-binary preferences," MPRA Paper 28168, University Library of Munich, Germany.
    2. Berdellima, Arian & Naqvi, Nadeem, 2012. "Social diversification, injustices, and Pareto optimality with non-binary preferences," MPRA Paper 39201, University Library of Munich, Germany.
    3. Naqvi, Nadeem, 2012. "Why is the Workplace Racially Segregated by Occupation?," MPRA Paper 43352, University Library of Munich, Germany.
    4. Naqvi, Nadeem, 2012. "Impossibility of interpersonal social identity diversification under binary preferences," MPRA Paper 41365, University Library of Munich, Germany.

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    More about this item

    Keywords

    Choice theory; decision theory; preference; binary relational logic; non-binary relational logic; utility function; expected utility; game theory; theory of value; discrimination; race; gender;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • D0 - Microeconomics - - General
    • B0 - Schools of Economic Thought and Methodology - - General
    • C0 - Mathematical and Quantitative Methods - - General
    • J0 - Labor and Demographic Economics - - General

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