Multicriteria efficiency with arbitrary finite sets and cyclic preferences

Peter C. Fishburn

Naval Research Logistics (NRL), 1988, vol. 35, issue 6, 567-574

Abstract: It is shown that when X is an arbitrary finite subset of an n‐factor product set and preference relations on each factor or criterion are assumed only to be asymmetric, efficient (undominated) points always exist in the set P of probability distributions on X when the preference relations are extended to probability distributions on the factors according to SSB utility theory. Thus, arbitrary finite structures and potentially cyclic preferences do not present a problem for the theory of efficiency under the convexification‐extension procedure.

Date: 1988
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https://doi.org/10.1002/1520-6750(198812)35:63.0.CO;2-D

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navres:v:35:y:1988:i:6:p:567-574

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