Additive representation for preferences over menus in finite choice settings

Leandro Gorno

Journal of Mathematical Economics, 2016, vol. 65, issue C, 41-47

Abstract: This paper obtains an additive representation for preferences over subsets of a finite set relaxing the two substantive axioms in Kreps (1979) flexibility theorem. The result implies that the lottery structure and assumptions employed by Dekel, Lipman and Rustichini (2001) to identify the subjective state-space do not introduce extraneous restrictions on deterministic choice behavior. This property does not necessarily hold when additional axioms are imposed.

Keywords: Dynamic choice; Preference for flexibility; Preference for commitment (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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Related works:
Working Paper: Additive Representation for Preferences over Menus in Finite Choice Settings (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:65:y:2016:i:c:p:41-47

DOI: 10.1016/j.jmateco.2016.05.002

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