A note on selecting maximals in finite spaces
Entity
UAM. Departamento de Análisis Económico, Teoría Económica e Historia EconómicaPublisher
UAM. Departamento de Análisis Económico, Teoría Económica e Historia EconómicaDate
2012Serie/Num.
Economic Analysis Working Paper Series. 6/2012ISSN
1885-6888Subjects
Maximal elements; Maximization; Acyclical preferences; Rational choice; Choice function; Refinements of maximization rule; EconomíaAbstract
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 reasons based on the same original preferences
for which it is suitable to select certain maximal alternatives over others. This paper
introduces two choice criteria induced by the original preferences such that maximizing
with respect to each of them may give a finer selection of alternatives than maximizing
with respect to the original preferences. Those criteria are built by means of several
preference relations induced by the original preferences, namely, two (weak) dominance
relations, two indirect preference relations and the dominance relations defined with the
help of those indirect preferences. It is remarkable that as the original preferences
approach being complete and transitive, those criteria become both simpler and closer to
such preferences. In particular, they coincide with the original preferences when these
are complete and transitive, in which case they provide the same solution as those
preferences
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Google Scholar:García-Bermejo Ochoa, Juan Carlos
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