Showing 1 - 10 of 20
This paper analyzes the measurement of the diversity of sets based on the dissimilarity of the objects contained in the set. We discuss axiomatic approaches to diversity measurement and examine the considerations underlying the application of specific measures. Our focus is on descriptive...
Persistent link: https://www.econbiz.de/10005729769
The notion of diversity is an issue that is of relevance in several contexts. For example, the biodiversity of a given ecological environment and the diversity of the options available to a decision maker have attracted some attention in recent research. This paper provides an axiomatic approach...
Persistent link: https://www.econbiz.de/10005731965
We examine the maximal-element rationalizability of choice functions with arbitrary do-mains. While rationality formulated in terms of the choice of greatest elements according to a rationalizing relation has been analyzed relatively thoroughly in the earlier litera-ture, this is not the case...
Persistent link: https://www.econbiz.de/10005545643
The rationalizability of a choice function by means of a transitive relation has been analyzed thoroughly in the literature. However, not much seems to be known when transitivity is weakened to quasi-transitivity or acyclicity. We describe the logical relationships between the different notions...
Persistent link: https://www.econbiz.de/10005545675
We generalize the classical expected-utility criterion by weakening transitivity to Suzumura consistency. In the absence of full transitivity, reflexivity and completeness no longer follow as a consequence of the system of axioms employed and a richer class of rankings of probability...
Persistent link: https://www.econbiz.de/10011186238
We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be generated by the optimization of some underlying decision criterion under uncertainty. Rather than focusing on a specific theory of choice, our objective is to formulate a general...
Persistent link: https://www.econbiz.de/10010933662
In a seminal contribution, Hansson (1976) demonstrates that the collection of decisive coalitions associated with an Arrovian social welfare function forms an ultrafilter. He goes on to show that if transitivity is weakened to quasi-transitivity as the coherence property imposed on a social...
Persistent link: https://www.econbiz.de/10010933669
We provide a brief survey of some literature on intertemporal social choice theory in a multi-profile setting. As is well-known, Arrow’s impossibility result hinges on the assumption that the population is finite. For infinite populations, there exist nondictatorial social welfare functions...
Persistent link: https://www.econbiz.de/10010933681
Suzumura shows that a binary relation has a weak order extension if and only if it is consistent. However, consistency is demonstrably not sufficient to extend an upper semi-continuous binary relation to an upper semicontinuous weak order. Jaffray proves that any asymmetric (or reflexive),...
Persistent link: https://www.econbiz.de/10005729752
We characterize a class of collective choice rules such that collective preference relations are consistent. Consistency is a weakening of transitivity and a strengthening of acyclicity requiring that there be no cycles with at least one strict preference. The properties used in our...
Persistent link: https://www.econbiz.de/10005729837