The existence of maximal elements for binary preference relations is analyzed without imposing transitivity or convexity conditions. From each preference relation a new acyclic relation is defined in such a way that some maximal elements of this new relation characterize maximal elements of the...

On analyzing the problem that arises whenever the set of maximal elements is large, and aselection is then required (see Peris and Subiza, 1998), we realize that logical ways of selectingamong maximals violate the classical notion and axioms of rationality. We arrive at the sameconclusion if we...

In this paper we analyze the existence of three different kinds of continuous numerical representations for binary relations by using a finite measure defined on the space of alternatives. Each one of these kinds of representation is suitable for a different class of binary relations. Thus we...

In this paper we analyze the relationship between acyclic social decision functions and fixed agenda social choice correspondences which verify some rationality conditions (such as Pareto, independence, monotonicity or neutrality). This enables us to translate known sesults of monlotonicity or...

Numerical representations of choice functions allow the expression of a problem of choice as a problem of finding maxima of real valued functions, which requires less information to be defined and which is easier to work with. In this paper, the existence of numerical representations of choice...

The article proposes a new algorithm for adjusting correlation matrices and for comparison with Finger's algorithm, which is used to compute Value-at-Risk in RiskMetrics for stress test scenarios. The solution proposed by the new methodology is always better than Finger's approach in the sense...

In a choice situation, it is usually assumed that the agents select the maximal elements inaccordance with their preference relation. Nevertheless, there are situations in which a selectioninside this maximal set is needed. In such a situation we can select randomly some of thesemaximal...

How should scholarships be distributed among the (public) higher education students? We raise thissituation as a redistribution problem. Following the approach developed in Fleurbaey (1994) andBossert (1995), redistribution should be based on the notion of solidarity and it re-allocates...

This paper deals with the existence and properties of the demand correspondence when agents' preferences are pseudotransitive. It is shown that a consumption plan belongs to the demand mapping if and only if it is a maximizer of a real-valued weak utility function. Further properties, as...

Following the work of Bandyopadhyay and Sengupta, we analyze the rationalization of a choice function in terms of the revealed preference but in a more general context: choice sets with a continuum of alternatives. Firstly it is proved that some results which are verified in the finite case are...