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Choice functions and weak Nash axioms

Sususmu Cato ()

Review of Economic Design, 2018, vol. 22, issue 3, 159-176

Abstract: Abstract The Nash axiom is a basic property of consistency in choice. This paper proposes weaker versions of the axiom and examines their logical implications. In particular, we demonstrate that weak Nash axioms are useful to understand the relationship between the Nash axiom and the path independence axiom. We provide an application of weak Nash axioms to the no-envy approach. We present a possibility result and an impossibility result.

Keywords: Choice function; Rational behavior; Nash axiom; No-envy; Path-independence; Menu-dependent preference (search for similar items in EconPapers)
JEL-codes: D63 D71 D11 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:spr:reecde:v:22:y:2018:i:3:d:10.1007_s10058-018-0215-2