EXTENDED PARTIAL ORDERS: A UNIFYING STRUCTURE FOR ABSTRACT CHOICE THEORY
Klaus Nehring and
Clemens Puppe ()
Department of Economics from California Davis - Department of Economics
The concept of a strict extended partial order (SEPO) has turned out to be very useful in explaining (resp. rationalizing) non-binary choice functions. The present paper provides a general account of the concept of extended binary relations, i.e., relations between subsets and elements of a given universal set of alternatives. In particular, we define the concept of a weak extended partial order (WEPO) and show how it can be used in order to represent rankings of opportunity sets that display a "preference for opportunities." We also clarify the relationship between SEPOs and WEPOs, which involves a non-trivial condition, called "strict properness." Several characterizations of strict (and weak) properness are provided based on which we argue for properness as an appropriate condition demarcating "choice based" preference.
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Journal Article: Extended partial orders:A unifying structure for abstract choice theory (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:caldec:97-06
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