A Note on Numerical Representations of Nested System of Strict Partial Orders

Dan Qin ()

Games, 2021, vol. 12, issue 3, 1-9

Abstract: This note provides two numerical representations of a nested system of strict partial orders. The first representation is based on utility and threshold functions. We generalize the threshold representation of menu-dependent preferences by allowing the threshold to depend not only on the menu but also on the pair of alternatives under comparison. The threshold function can be interpreted as the distance between alternatives. The second representation is based on the aggregation of multi-dimensional preference. This representation describes a decision-making procedure where multiple criteria are gradually aggregated into an overall assessment.

Keywords: bounded rationality; satisficing behavior; menu-dependent preference; numerical representation (search for similar items in EconPapers)
JEL-codes: C C7 C70 C71 C72 C73 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2073-4336/12/3/57/pdf (application/pdf)
https://www.mdpi.com/2073-4336/12/3/57/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jgames:v:12:y:2021:i:3:p:57-:d:589968

Access Statistics for this article

Games is currently edited by Ms. Susie Huang

More articles in Games from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().