Never choose the uniquely largest A Characterization

Nick Baigent and Wulf Gaertner

Economic Theory, 1996, vol. 8, issue 2, 239-249

Abstract: In this paper we characterize choice behaviour that picks the second largest element if there is a uniquely largest; otherwise, the largest elements are picked. Having defined our choice function, we offer a complete characterization of the latter in terms of pure choice function conditions. Similarities to and divergences from conventional choice theory are explained. We discuss the motivations underlying our exercise and provide several examples for the axiomatized choice behaviour.

JEL-codes: D10 D71 D80 (search for similar items in EconPapers)
Date: 1996
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Journal Article: Never Choose the Uniquely Largest: A Characterization (1996)
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