Rationalizability of menu preferences
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Volume
65
Pagination
917 - 934
Publisher
DOI
10.1007/s00199-017-1043-2
Journal
Economic Theory
Issue
ISSN
0938-2259
Metadata
Show full item recordAbstract
The class of preferences over opportunity sets ("menus") rationalizable by underlying preferences over the alternatives is characterized for the general case in which the dataset is unrestricted. In particular, both the universal set of alternatives and the domain of menus over which preferences are asserted by the decision maker are arbitrary. The key "Cover Dominance" axiom states that any menu strictly preferred to a collection of menus must be strictly preferred to any menu covered by the collection. The method of characterization relies upon transitivity of menu preferences, but completeness can be relaxed.
Authors
TYSON, CJCollections
- Applied Economics [100]