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A characterization of lexicographic preferences

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Listed:
  • Goswami, Mridu Prabal
  • Mitra, Manipushpak
  • Sen, Debapriya

Abstract

This paper characterizes lexicographic preferences over alternatives that are identified by a finite number of attributes. We say two alternatives are 'totally different' if they are different with respect to every attribute. Our characterization is based on two key concepts: a weaker notion of continuity called 'mild continuity' (strict preference order between any two totally different alternatives is preserved around their small neighborhoods) and an 'unhappy set' (any alternative outside the set is preferred to all alternatives inside).

Suggested Citation

  • Goswami, Mridu Prabal & Mitra, Manipushpak & Sen, Debapriya, 2018. "A characterization of lexicographic preferences," MPRA Paper 90552, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:90552
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    File URL: https://mpra.ub.uni-muenchen.de/108988/1/MPRA_paper_108988.pdf
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    Cited by:

    1. Petri, Henrik, 2020. "Lexicographic probabilities and robustness," Games and Economic Behavior, Elsevier, vol. 122(C), pages 426-439.

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    More about this item

    Keywords

    lexicographic preference; mild continuity; unhappy set; inclusion of marginally improved alternatives; preference nonreversibility;
    All these keywords.

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

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