The structure of incomplete preferences
Economic Theory, 2018, vol. 66, issue 1, 159-185
Abstract I study incomplete preferences as a means to represent indecisiveness. A decomposition into maximal domains of comparability is characterized and used to link optimization of incomplete preferences with maximization of local utility functions. Larger maximal domains are shown to correspond to more decisive preferences. The decomposition can be uniquely recovered from choice data under standard assumptions. Applications to different models within decision theory are discussed.
Keywords: Incomplete preferences; Indecisiveness; Maximal elements; Best elements; Revealed preference (search for similar items in EconPapers)
JEL-codes: D11 D81 (search for similar items in EconPapers)
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