The aim of this paper is to explore several features concerning the generalized marginal rate of substitution (GMRS)when the consumers utility maximization problem with several constraints is formulated as a quasi-concave programming problem. We show that a point satisfying the first order...

This paper provides a different proposal for ranking sets of alternatives in terms of a lexicographic rule. We discuss how intensity of preference over alternatives may affect an individual’s choice out of the available set of alternatives. We provide an axiomatic characterization of an...