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Social Choice and Welfare

Erschienen in:

01.08.2014 | Original Paper

On the representation of preference orders on sequence spaces

verfasst von: Kuntal Banerjee

Erschienen in: Social Choice and Welfare | Ausgabe 2/2014

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Abstract

A set of sufficient conditions for representability of preference orders on real sequence spaces is analyzed. In particular, monotonicity and continuity of the order is not assumed. Two applications are worked out to demonstrate how such a result might be useful.

Vorheriger Artikel Choice in ordered-tree-based decision problems

Nächster Artikel Preference, topology and measure

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If each \(x_{i}\ge y_{i}\) and the inequality is strict for some \(i\) then a strongly monotone preference will declare \(x\) to be strictly preferred to \(y\).

The upper and lower contour sets for each element is assumed closed in the natural topology of the space.

This means that \(Y\) is any subset of \(\mathbb {R}\) taking one of the following forms: (a) \((a,b]\) with \(-\infty \le a<b<\infty \) (b) \((a,b)\) with \(-\infty \le a<b\le \infty \) (c) \([a,b]\) with \(-\infty <a<b<\infty \) and (d) \([a,b)\) with \(-\infty <a<b\le \infty \).

Inequity Averse preferences are widely observed in experimental games, see Fehr and Schmidt (1999) and a general axiomatic characterization of individual inequity averse preferences by Neilson (2006).

The inequality measurement literature is extensive, see the seminal paper by Atkinson (1970) as an intuitive summary of the pertinent issues involved.

Atkinson AB (1970) On the measurement of economic inequality. J Econ Theory 2:244–263CrossRef

Debreu G (1954) Representation of a preference ordering by a numerical function. In: Thrall RM, Davis RL, Coombs CH (eds) Decision processes. Wiley, New York

Dubey RS, Mitra T (2013) On representation and construction of equitable social welfare orders on infinite utility streams. Working paper available at SSRN: http://ssrn.com/abstract=2313353

Eilenberg S (1941) Ordered topological spaces. Amer J Math 63:39–45CrossRef

Fehr E, Schmidt KM (1999) A theory of fairness, competition, and cooperation. Q J Econ 114:817–868CrossRef

Jaffray JY (1975) Existence of a continuous utility function: an elementary proof. Econometrica 43:981–983CrossRef

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Mas-Colell A, Whinston MD, Green JR (1995) Microeconomic theory. Oxford University Press, Oxford

Mitra T, Ozbek MK (2013) On representation of monotone preference orders in a sequence space. Soc Choice Welfare. doi:10.1007/s00355-012-0693-z

Neilson W (2006) Axiomatic reference dependence in behavior toward others and toward risk. Econ Theory 28:681–692CrossRef

Ok E, Koçkesen L (2000) Negatively interdependent preferences. Soc Choice Welfare 17:533–558CrossRef

Rader T (1963) The existence of a utility function to represent preferences. Rev Econ Studies 30:229–232CrossRef

Royden HL (1988) Real analysis. Macmillan, New York

Segal U, Sobel J (2002) Max, min and sum. J Econ Theory 106:126–150CrossRef

Wold H (1943) A synthesis of pure demand analysis, I, II and III. Scand Aktuarietidskr 26:85–118, 220–263, 69–120

Titel: On the representation of preference orders on sequence spaces
verfasst von: Kuntal Banerjee
Publikationsdatum: 01.08.2014
Verlag: Springer Berlin Heidelberg
Erschienen in: Social Choice and Welfare / Ausgabe 2/2014
Print ISSN: 0176-1714
Elektronische ISSN: 1432-217X
DOI: https://doi.org/10.1007/s00355-013-0783-6

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