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Given a choice problem, the maximization rule may select many alternatives. In such cases, it is common practice to interpret that the final choice will end up being made by some random procedure, assigning to any maximal alternative the same probability of being chosen. However, there may be...
Persistent link: https://www.econbiz.de/10009493763
This note provides an alternative proof of a known result on the existenceof collections of orderings generating intersection quasi-orderings. Instead of proving theresult from rst principles, it is illustrated how it can be obtained by making use of ananalogous relationship between partial...
Persistent link: https://www.econbiz.de/10005869310
This paper extends the well-known KKM theorem and variational inequalities by relaxing the closedness of values of a correspondence and lower semicontinuity of a function. The approach adopted is based on Michael's continuous selection theorem. As applications, we provide theorems for the...
Persistent link: https://www.econbiz.de/10011109946
We provide the first necessary and su±cient conditions in the literature for the existence of maximal elements in a non-binary choice framework. As an application, the characterization of the existence of maximal elements for acyclic binary relations obtained in Rodriguez-Palmero and...
Persistent link: https://www.econbiz.de/10005077087
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...
Persistent link: https://www.econbiz.de/10005731412
In the present paper, the existence of maximal elements for binary relations are studied. Generalized lexicographic relations are introduced, and some results on existence of maximal elements are provided. A simple example shows that economies with "lexicographic consumers" need not have...
Persistent link: https://www.econbiz.de/10005749797
We obtain a sufficient condition for the existence of maximal elements of irreflexive binary relations that generalizes the theorem of Bergstrom and Walker by relaxing the compactness condition to a weaker one that is naturally related to the relation. We then prove that the sufficient...
Persistent link: https://www.econbiz.de/10005753471
In this paper we characterize the existence of best choices of arbitrary binary relations over non finite sets of alternatives, according to the Generalized Optimal-Choice Axiom condition introduced by Schwartz. We focus not just in the best choices of a single set X, but rather in the best...
Persistent link: https://www.econbiz.de/10005616780
This paper generalizes two theorems in Campbell and Walker (1990), which is based on weak upper continuity. A new property, called partial upper continuity, is shown to be sufficient for representation and existence of a maximal element. Noting that transfer weak upper continuity (Tian and Zhou,...
Persistent link: https://www.econbiz.de/10011116215
Acyclicity of individual preferences is a minimal assumption in social choice theory. We replace that assumption by the direct assumption that preferences have maximal elements on a fixed agenda. We show that the core of a simple game is nonempty for all profiles of such preferences if and only...
Persistent link: https://www.econbiz.de/10005837444