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The purpose of the paper is to provide a general framework for analyzing "preference for opportunities." Based on two simple axioms a fundamental result due to Kreps is used in order to represent rankings of opportunity sets in terms of multiple preferences. The paper provides several...
Persistent link: https://www.econbiz.de/10005369285
This paper attempts to provide a unified account of the rationalization of possibly non-binary choice-functions by "Extended Preference Relations" (relations between sets and elements). The analysis focuses on transitive EPRs for which three choice-functional characterizations are given, two of...
Persistent link: https://www.econbiz.de/10005752875
Persistent link: https://www.econbiz.de/10005752892
We show that Maskin monotone social choice correspondences on sufficiently rich domains satisfy a generalized strategy-proofness property, thus generalizing Muller and Satterthwaite's (1977) theorem to correspondences. The result is interpreted as a possibility theorem on the dominant-strategy...
Persistent link: https://www.econbiz.de/10005147147