Preference and Preference Structure

Kazuhisa Takemura
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Kazuhisa Takemura: Waseda University

Chapter Chapter 2 in Behavioral Decision Theory, 2021, pp 15-26 from Springer

Abstract: Abstract This chapter presents the formal aspects of decision makingDecision making and introduce a set-theoretic representation of preferencesPreference to give a formal definition of the best decisionsBest decision. In this chapter, we first present a conceptual framework for the phenomenon of decision makingDecision-making phenomenon, and then use set theorySet theory to provide a more rigorous discussion. The concept of decision makingDecision making is based on the assumption that at least the best alternativesAlternatives can be chosen, and that the alternativesAlternatives are arranged in descending order of priority. In this chapter, we explore the logical conditions of the preference relationPreference relation for the existence of the best alternativesAlternatives.

Keywords: Preference; Preference structure; Binary relation; Comparative judgment; Measurement (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-5453-4_2

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DOI: 10.1007/978-981-16-5453-4_2

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