On the existence of undominated alternatives in convex sets

Nikolai Kukushkin ()

Economics Bulletin, 2019, vol. 39, issue 3, 2129-2136

Abstract: Necessary and sufficient conditions are found for an interval order to admit a maximizer in every convex, or convex and compact, subset of its domain. The conditions are formulated in terms of "improvement paths" and are somewhat similar to conditions characterizing interval orders admitting a maximizer in every compact subset. For a stronger, "von Neumann-Morgenstern," property - every dominated alternative is dominated by an undominated one - only a sufficient condition is obtained.

Keywords: Preference relation; Interval order; Maximal element; Necessary and sufficient condition (search for similar items in EconPapers)
JEL-codes: D1 D7 (search for similar items in EconPapers)
Date: 2019-09-30
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