History-dependent Preferences: An Axiomatic Perspective

Artur Dolgopolov, Dominik Karos and Ehud Lehrer
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Artur Dolgopolov: Center for Mathematical Economics, Bielefeld University
Dominik Karos: Center for Mathematical Economics, Bielefeld University
Ehud Lehrer: Center for Mathematical Economics, Bielefeld University

No 762, Center for Mathematical Economics Working Papers from Center for Mathematical Economics, Bielefeld University

Abstract: This paper develops an axiomatic framework for decision making when preferences depend not only on the current alternative but also on the past frequency with which alternatives have been chosen. We identify key independence axioms that characterize frequency-dependent preferences. In addition, we derive representation results for preference structures that separate the intrinsic utility of an alternative from the effect associated with its consumption frequency. The framework provides a foundation for modeling variety-seeking behavior, while remaining closely connected to classical utility theory and extending it to encompass history-sensitive preferences.

Keywords: History-dependent Preferences; Repeated decision problem; time-inconsistent preferences; habit formation (search for similar items in EconPapers)
Pages: 36
Date: 2026-01-28
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https://pub.uni-bielefeld.de/download/3013523/3013524 First Version, 2026 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:bie:wpaper:762

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