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Ariel Rubinstein gives his answer to Freakonomics.
Persistent link: https://www.econbiz.de/10014591576
We suggest a concept of convexity of preferences that does not rely on any algebraic structure. A decision maker has in mind a set of orderings interpreted as evaluation criteria. A preference relation is defined to be convex when it satisfies the following condition: If, for each criterion,...
Persistent link: https://www.econbiz.de/10012637402