A Consequence of Chernoff and Outcasting and Solutions for Abstract Games

Somdeb Lahiri ()

No 2000-03-02, IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department

Abstract: The purpose of this paper is to prove by induction the theorem (in Aizerman and Malishevski [1981]) that a choice function which satisfies Chernoffs axiom and Outcasting can always by expressed as the union of the solution sets of a finite number of maximization problems. In this paper we also show that the Slater solution for abstract games (see Slater [1961]) satisfies the Chernoff, Outcasting and Expansion axioms. On the other hand the solution due to Copeland [1951], which has subsequently been axiomatically characterized Henriet [1985], does not satisfy any of these three properties.

Date: 2000-03-02

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